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Project Insights

China Investment Corp. closes in on $4 billion deal with GDF Suez

China Investment Corp. (CIC), the country's $410 billion sovereign wealth fund, is in advanced talks with GDF Suez on a potential $4 billion investment in the French energy giant, CIC announced on 10 August via an online statement.
By Li Xin 11 August 2011 Asia Pacific / Companies & Finance 0 630

China Investment Corp. (CIC), the country's $410 billion sovereign wealth fund, is in advanced talks with GDF Suez on a potential $4 billion investment in the French energy giant, CIC announced on 10 August via an online statement.

Under the proposed deal, CIC will purchase a 30% stake in GDF Suez's exploration and production arm, GDF Suez E&P, for $3.15 billion. The transaction will mark the sovereign wealth fund's biggest investment in Europe to date, the online statement said.

CIC will deploy an additional $850 million to...