China Investment Corp to buy $1.74 billion stake in Teck
Submitted by Aaron Ross on Sun, 07/05/2009 - 12:18
China Investment Corp. said it would buy a 17 per cent stake in the Teck Resources Ltd., a Canadian mining company, in a $1.74-billion all-cash deal.
Under the deal, China Investment Corp. would get more than 101 million class voting shares for $17.21 each and 17.5 % of the company's B shares.
However, the sale is yet to get regulatory approval.
Teck Resources sells 17% stake to CIC for C$1.74 billion
Submitted by Aaron Ross on Sat, 07/04/2009 - 09:08
In a move to reduce debt, Canada’s biggest diversified mining company, Teck Resources Ltd, has sold a 17 percent stake to China Investment Corp (CIC) – China’s $200 billion sovereign wealth fund.
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