China’s sovereign investment fund has made its first UK venture with the purchase of an 8.68% stake in Thames Water today.
The China Investment Corporation (CIC) confirmed it had made the purchase “through a wholly owned subsidiary” in a one line statement on its website this morning. How much the stake was bought for, and which fund the stake was acquired from, has not yet been revealed.
Macquarie managed funds hold stakes in the water company worth just under 40% but the remainder is held by a series of other investors.
News of the purchase follows chancellor George Osborne’s visit to China this week.
In December Macquarie Infrastructure and Real Assets (MIRA) announced a change in ownership of 9.9% of Kemble Water Holdings Limited (Kemble) - the holding company of Thames Water – for an undisclosed sum.