Middle East Economic Survey
Chinas CIC Buys 11% Of KMG Shares
Chinese sovereign fund China Investment Corporation (CIC) has acquired an 11% interest in KazMunaiGaz (KMG) through the $939mn purchase of global depository receipts (GDRs) via the London Stock Exchange, Xinhua news agency reported on 29 September. As a result, the price of KMGs GDRs rose by 9.95% to $22.10 in early trading on 30 September. The transaction was started on 14 July 2009, and all necessary...