Chinese fund acquires stake in KazMunaiGas

10/2/2009

Chinese fund acquires stake in KazMunaiGas

China’s biggest sovereign wealth fund has spent $939 million acquiring 11% of the global
depositary receipts (GDRs) of Kazmunaigas Exploration and Production, the London-listed upstream affiliate of Kazakhstan’s state oil company, Kazmunaigas.

China Investment Corporation (CIC) said it began buying the GDRs—which trade both on the Kazakh and UK exchanges—on Jul. 14, and that all regulatory issues concerning the transaction
have now been taken care of.

The $290 billion fund carried out the transaction through its subsidiary Fullbloom Investment.


 

 

 

 

 

 


 
China’s biggest sovereign wealth fund has spent $939 million acquiring 11% of the global
depositary receipts (GDRs) of Kazmunaigas Exploration and Production, the London-listed upstream affiliate of Kazakhstan’s state oil company, Kazmunaigas.

China Investment Corporation (CIC) said it began buying the GDRs—which trade both on the Kazakh and UK exchanges—on Jul. 14, and that all regulatory issues concerning the transaction
have now been taken care of.

The $290 billion fund carried out the transaction through its subsidiary Fullbloom Investment.

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