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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.