China’s Silk Road Fund To Acquire 10% Of Russia’s SIBUR

China's Silk Road Fund, a US$40 billion state-owned investment vehicle to foster increased investment along the silk road, has agreed to acquire a 10% stake in SIBUR Holding, Russia's largest gas processing and petrochemicals company.

No financial details were announced. As part of the deal, the Silk Road Fund will be able to nominate its representative to SIBUR's board of directors.

"The fact that a financial institution as large as the Silk Road Fund became a shareholder of SIBUR confirms the investor appeal of the company and strengthens its positions in the international market," said Leonid Mikhelson, chairman of SIBUR, in a statement.

The transaction, which...

This news article comes via , who is the copyright owner of this information and news. has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network

You May Also Like