CIC to iair compressornvest in US power giant
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CIC to invest in US power giantPublished: 09 Nov 2009 01:02:01 PSTChina Investment Corporation (CIC), the country’s sovereign-wealth fund, announced Friday that the company will invest $1.58 billion in US-based power giant AES Corporation.According to CIC’s announcement, it will purchase 125.5 million shares of AES at the unit price of $12.6 per share. After the investment, CIC will a hold 15 percent stake in the American company. CIC will also appoint a shareholder of the company to join the board of directors of AES Corp.Meanwhile, CIC also signed a letter of intent with AES to invest a further $571 million to buy a 35 percent stake of AES’ wind power subsidiary.President and CEO of AES Paul Hanrahan said, ’’Having CIC as a partner will enhance our financial flexibility, provide capital needed to move more quickly on our project development pipeline, and offer broader access to high quality investment opportunities.’’AES Corp. is one the largest power producers and distributors with total assets valued at $35 billion with its business covering 29 countries.CIC’s overseas investment moves were more frequent after September. In the last three months, CIC has invested in six overseas projects with the total value of the projects worth $6.55 billion. Explore the World, Understand China!Please log on http://www.gloaltimes.cn港澳游 OA系统 减速机 lithium batteries 深圳罗湖搬家 現金化 kitchen cabinets wholesale in stock kitchen cabinets Asian Escort london