Singapore wealth fund buys stake in Spain's Applus

It'll splurge a whopping €127m.

Reuters reported that Singapore's sovereign wealth fund GIC bought a 6.5 percent stake in Spanish industrial testing firm Applus when it went public earlier this month, according to a regulatory filing, as the country's economic turnaround draws more foreign investors.

Government Of Singapore Investment Corporation PTE LT, also known as GIC, bought the shares, worth about 127 million euros at current market prices, the filing showed.

Read full report here.

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