China Investment Corp Ltd
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CIC has signed a letter of intent with global renewable power company AES to invest $571m for a 35 per cent interest in AES’ wind generation business.
China Investment Corporation (CIC) has invested a total of $1.58bn in global renewable power company AES through a wholly-owned subsidiary.
At close, CIC will acquire 125.5 million shares of AES stock for $12.6 per share, representing approximately 15 per cent equity interest in the company. According to the investment agreement, CIC will nominate one director to the AES board.
Nov 15 '09
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