Aroundtheworld
CEFC ‘to invest in Russia’s En+’
China CEFC Energy Co may take a stake in Russian energy conglomerate En+ when the latter makes an IPO, which is scheduled for later this year.
Reuters reported on Wednesday, citing industry sources, that the Chinese company is “looking to boost its presence in Russia and buy into En+.”
En+ plans to raise about $1.5 billion from an IPO in London, according to Reuters.
CEFC has been investing heavily in Russia’s energy sector. It purchased a 14 percent stake in Russian oil giant Rosneft last week for $9 billion.
HNA takes over German airport
HNA Group on Tuesday formally took over the controlling ownership of Frankfurt-Hahn Airport, a crucial step for the Chinese aviation conglomerate’s overseas expansion.
During a ceremony in Frankfurt, HNA executives and German officials signed the final documents for the deal, domestic civil aviation industry news outlet carnoc.com reported on Wednesday. The parties also signed a deal to further cooperate on air cargo services.
HNA won a bid to purchase an 82.5 percent stake in the airport for 15.1 million euros ($15.8 million) in March, after a plan was approved by European regulators, according to media reports.
Dongfang train deal in Sri Lanka
Dongfang Electric Corp has won a bid to supply 90 diesel-powered multiple unit trains in Sri Lanka, the Chinese company announced on Wednesday.
Dongfang said in an online statement that it had already signed a contract with the Sri Lankan government. No further details were provided.
Dongfang, which is based in Chengdu, capital of Southwest China’s Sichuan Province, has been looking to expand overseas in recent years. Prior to the Sri Lankan deal, the company exported 120 diesel-powered multiple unit trains to Iraq, the company said in the statement.
Zhongwang buys aluminum producer
China Zhongwang Holdings on Wednesday announced that it will purchase Germany’s Aluminiumwerk Unna AG.
The company did not provide further details such as a time frame for completing the acquisition and amount involved.
But Zhongwang President Lu Changqing was quoted in a press release as saying that the merger could “speed up this company’s expansion in aviation, automobiles and other areas and improve overall strength.”
Zhongwang is one of China’s leading aluminum product processors and Aluminiumwerk supplies certain aluminum products to aviation and auto companies, including Airbus and Mercedes-Benz.