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Article: China's $343bn Australian asset buy-up.
- Article from:
- Australasian Business Intelligence
- Article date:
- September 22, 2009
CopyrightCOPYRIGHT 2009 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Matt Chambers
Sep 22, 2009 (The Australian - ABIX via COMTEX) -- China Investment Corporation (CIC), worth some $US300bn ($A343bn), is paying $US850m for a holding of 15% in Noble Group. As the Hong Kong-based mining commodities house has extensive investments in Australia's resources sector, this will give access to those businesses to the Chinese Government's sovereign wealth fund as well. Among the Noble interests in Australia are Macarthur Coal, Gloucester Coal and Territory Resources. CIC is also a major stakeholder in ...