CIC to Pull Out of Bumi Resources’ $362 Million Share Sale
Posted on 09/27/2010
China Investment Corporation (CIC), a major Chinese sovereign wealth fund, exited out of a debt-for-equity swap with Bumi Resources. CIC pulled out of the deal over a disagreement over deal terms. CIC has massive bargaining power and its hard for the Asian giant to accept a deal premium from Bumi, especially from a differential in […]
