The story appears on

Page B2

November 10, 2009

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Energy

CIC pays nearly US$1.6b for 15% share in AES

CHINA Investment Corp, the nation's US$200-billion sovereign wealth fund, yesterday said it invested US$1.58 billion to buy a 15-percent share in AES Corp, a United States power company.

CIC purchased 125 million shares at US$12.60 each, the company said yesterday.

By the time the transaction is done, CIC will appoint a member to join the AES's board of directors.

CIC has also signed a letter of intent with AES on the purchase of a 35-percent stake of its wind power subsidiary for US$571 million.

The Virginia-based AES is a leading power company that is involved in the generation and distribution of thermal and renewable energy.

CIC also confirmed that it agreed in September to lend US$1.9 billion to a leading Indonesian coal miner PT Bumi Resources through a debt-like instrument.

CIC also invested US$858 million to purchase 14.91-percent stake in Hong Kong-based Noble Group, Asia's largest commodity trading company.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend