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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

CIC takes 45 pct stake in Russia Nobel Oil group in $300mln deal

Posted on 16 October 2009

From WSJ: China’s sovereign-wealth fund is investing $300 million as part of a complex transaction in which a Hong Kong-listed company is seeking to take over Russian oil producer Nobel Holdings Investments Ltd., according to statements from the Chinese fund and the Hong Kong-listed company.

The agreement appears to be a route to a backdoor listing of the Russian company in Hong Kong. In one unusual aspect of the deal, Hong Kong-based financial firm Oriental Patron Financial Group is a shareholder in both Nobel Holdings and the Hong Kong-listed company, Kaisun Energy Group Ltd……………………Full Article: Source

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