French utility GDF Suez’s board gave the green light for an alliance with China’s sovereign wealth fund that will help it expand in the booming Asia-Pacific region, a board member told Reuters on Tuesday.
The deal will see China Investment Corp (CIC) pay 2.3 billion euros ($3.2 billion) for a 30 percent stake in GDF’s exploration and production business, the board member said……………………………………….Full Article: Source