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China Investment Corp may take stake in AES
By Zhou Xin |
September 15, 2009, Tuesday
|
Print Edition
Print Edition
CHINA'S sovereign wealth fund is in talks to take a minority stake in power company AES Corp, the Wall Street Journal said yesterday, citing people familiar with the matter.
The possible deal is part of wide-ranging discussions aimed at building an alliance between AES and China Investment Corp, the paper said, adding that the talks could result in CIC taking a significant stake in AES.
According to the paper, a joint venture between the parties is also under discussion, in which CIC would provide capital to support AES in developing power plants. The sources described the talks as being at a sensitive stage.
A CIC media official said it would not comment on rumors concerning its investment activities. AES could not be immediately reached for comment by Reuters.
Last week, CIC's head of special investments said the company is seeking minority stakes in infrastructure, green and new energy projects.
The US$298 billion sovereign wealth fund is looking to invest as much overseas each month this year as it did in all of 2008, Chairman Lou Jiwei said recently.
The possible deal is part of wide-ranging discussions aimed at building an alliance between AES and China Investment Corp, the paper said, adding that the talks could result in CIC taking a significant stake in AES.
According to the paper, a joint venture between the parties is also under discussion, in which CIC would provide capital to support AES in developing power plants. The sources described the talks as being at a sensitive stage.
A CIC media official said it would not comment on rumors concerning its investment activities. AES could not be immediately reached for comment by Reuters.
Last week, CIC's head of special investments said the company is seeking minority stakes in infrastructure, green and new energy projects.
The US$298 billion sovereign wealth fund is looking to invest as much overseas each month this year as it did in all of 2008, Chairman Lou Jiwei said recently.
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