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China buys $939 mln interest in Kazakh oil, gas company

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China Investment Corporation (CIC) has paid $939 million for a stake in Kazakh oil and gas company KazMunaiGas (KMG), the Xinhua news agency reported on... 30.09.2009, Sputnik International

2009-09-30T14:03+0000

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China buys $939 mln interest in Kazakh oil, gas company

14:03 GMT 30.09.2009

China Investment Corporation (CIC) has paid $939 million for a stake in Kazakh oil and gas company KazMunaiGas (KMG), the Xinhua news agency reported on Wednesday.

MOSCOW, September 30 (RIA Novosti) -- China Investment Corporation (CIC) has paid $939 million for a stake in Kazakh oil and gas company KazMunaiGas (KMG), the Xinhua news agency reported on Wednesday.

It said CIC had purchased about 11 percent of KMG's Global Depository Receipts (GDRs).

KMG stocks are listed on the Kazakhstan Stock Exchange and its GDRs are traded on the London Stock Exchange.

The agency said KMG's GDRs rose 9.95 percent to $22.1 on Wednesday morning's trade in London.