Sovereign wealth fund China Investment Corp. has entered into an agreement with GDF Suez to buy a €2.3 billion minority stake in the French company’s exploration and production unit.
Slow growth potential in Europe has convinced the CEO of French energy giant GDF Suez, Gérard Mestrallet, that the best growth prospects lie in emerging markets.
China Investment Corporation is in advanced discussions to buy a minority stake in GDF Suez’s exploration and production business for about €3 billion.