PE Fund To Pay $1.6B For Stake In $18B China Gas Pipe

Law360, New York (May 31, 2012, 6:16 PM EDT) -- China's energy infrastructure sector got its first infusion of private equity Wednesday, when a fund managed by the nongovernmental chamber of commerce inked a 10 billion yuan ($1.6 billion) deal for a minority stake in PetroChina Co. Ltd.'s 116 billion-yuan natural gas pipeline.

The deal gives a 16 percent stake in the West-East pipe project to an urban infrastructure facilities investment fund established by the All-China Federation of Industry and Commerce, according to a statement China's National Social Security Fund issued following Wednesday's signing ceremony in...
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