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China wealth fund buys nearly 9% of Thames Water

China Investment Corporation (CIC), the country's sovereign wealth fund, has bought 8.68% of the company behind UK utility group Thames Water.
It marks the fund's first acquisition in the UK, and follows a visit to China this week by Chancellor George Osborne.
Thames Water is owned by Kemble Water, a consortium of investors led by Australian bank Macquarie.
CIC was set up in 2007 to invest some of China's huge $3.18tn (£2tn) in foreign exchange reserves.
In a one-sentence statement on its website, CIC said it bought the stake through a wholly-owned subsidiary. No purchase price was disclosed.
Thames Water, acquired by Kemble in 2006, is the UK's largest water and sewerage company, serving about 14 million customers.
CIC chairman Lou Jiwei had said recently that his company was interested in investing in European and US infrastructure.
Speaking about the deal, the Chancellor said: "This is a significant step by China. It is a vote of confidence in Britain as a place to invest and do business.
"This investment is good news for both the British and Chinese economies."

http://www.bbc.co.uk/news/business-16643989
20 January 2012, Friday
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