The sovereign wealth funds of China and South Korea are set to lead a $900m investment in a leading US producer of natural gas from shale rock, becoming the latest Asia-based groups to focus on the sector.
China Investment Corporation and Korea Investment Corp are in advanced negotiations to join a consortium planning to acquire convertible preferred stock in New York-listed Chesapeake Energy, according to people familiar with the matter.
The talks follow last week's disclosure that Temasek, the Singapore state investment fund, and Hopu Investment Management, a Beijing-based firm, had acquired $600m of its convertible preferred stock.
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