The recently missing-in-action chairman of CEFC China Energy Ye Jianming is to step down as head of the company, reports Reuters, following a statement from an unlikely source: the office of the president of the Czech Republic.
The announcement came as CEFC’s Czech subsidiary CEFC Europe backed out of a record deal in the Czech Republic, with Chinese state-run bank CITIC reportedly interested in acquiring the company.
Ye is currently under investigation in China for suspected economic crimes.
Beijing-based CEFC has expanded rapidly in recent years through aggressive acquisition of foreign assets, a notable example of this the purchase of a $9.1 billion stake in Russian oil giant Rosneft, which has yet to go through. Representatives of Rosneft say that the deal is still ‘very much alive’.
You must log in to post a comment.