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Sovereign Wealth Funds Briefing - Categorized | Investment

China saves another troubled Canadian firm

Posted on 21 July 2011

China National Offshore Oil Corp. wants to buy Opti Canada Inc for $2.1-billion (U.S.), a value that includes assuming $825-million of Opti’s current debt. It’s a great outcome a company whose image was severely tarnished.
In 2009 China Investment Corp. invested $1.5-billion (U.S.) in Teck Resources Ltd., which was struggling for survival during the recession. That investment is now worth about five times the initial outlay……………………………………….Full Article: Source


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