CIC signs MOU with France's GDF SUEZ
Updated: 2011-08-10 17:24
(Xinhua)
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BEIJING-- China Investment Corp (CIC), the country's sovereign-wealth fund, on Wednesday signed a Memorandum of Understanding with GDF SUEZ SA, a French energy company, to expand bilateral cooperation.
The two companies will further cooperate in the areas of gas, power, water, waste treatment and energy efficiency services, CIC said in a statement posted on its website.
CIC plans to pay $3.15 billion to acquire a 30 percent stake in GDF SUEZ's exploration and production division, according to the statement.
The division's operating incomes accounted for 2.6 percent of the company's total revenues last year.
CIC is also considering investing $850 million to acquire a stake in GDF SUEZ's Atlantic LNG liquefaction facility located in Trinidad and Tobago, according to the statement.
