Bridas Corp, a joint venture owned by Chinese crude producer CNOOC (CEO.NYSE, 0883.HK) and Argentina’s Bulgheroni family, announced it will pay US$7.06 billion to acquire the 60% stake it does not already own in Pan American Energy (PAE), AFP reported. British energy group BP (BP.NYSE, BP.LSE) is divesting its PAE stake as part of asset sales to […]
Category: Investment
China Pacific Insurance (2601.HK) announced it is selling its 50% stake in an insurance joint venture with Dutch financial company ING Groep NV (ING.NYSE, INGA.Euronext) for US$142 million, reflecting a broader effort by Chinese insurers to eliminate internal competition, the Wall Street Journal reported. China Life Insurance Group (LFC.NYSE) also recently sold its 51% stake in […]
Pakistan President Asif Ali Zardari on Saturday invited Chinese builders and construction firms to take advantage of Pakistan’s new investment environment. Zardari invited them to build Zulfikarabad city in Sindh and other infrastructure projects in different parts of the country devastated by floods in what he said was "a guaranteed win-win scenario both for Pakistan […]
China has reached an agreement with Canadian officials to designate Canada as an approved investment destination for domestic insurance companies under the Qualified Domestic Institutional Investor (QDII) program, the National Post reported. China’s insurers will be permitted to invest in Canadian capital markets under the deal, announced by Finance Minister Jim Flaherty at the G20 […]
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Shadowy figures
Greet news of mystery Chinese investors with qualified skepticism, says our Beijing-based China watcher