CIC pays nearly US$1.6b for 15% share in AES
Source: Xinhua |
November 10, 2009, Tuesday
|
Print Edition
Print Edition
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.
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.
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