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Article: Kazakhstan : CIC Buys Stake in Kazakh Gas Company for $939 Million.
- Article from:
- TendersInfo
- Article date:
- October 1, 2009
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China s sovereign wealth fund bought a stake in the London-traded unit of Kazakhstan s state-run energy company, taking its spending on resources to at least $3.69 billion this month.
China Investment Corp., which holds almost $300 billion, bought an 11 percent stake in Astana, Kazakhstan-based JSC KazMunaiGas Exploration Production for about $939 million by purchasing global depositary receipts, according to a statement dated today on the Beijing-based fund s Web site.
China is hunting for resources from Canada to Nigeria to support expansion in the world s fastest-growing major economy. Today s deal follows a combined $2.75 billion spent by the fund on ...