China Investment Corp in $1.4bn European shopping spree

14/07/2015
CIC Chairman and CEO Ding Xuedong

CIC Chairman and CEO Ding Xuedong

The China Investment Corp has bought ten shopping centres with a combined area of 221,000m² in France and Belgium for a total of $1.4bn from the CBRE Global Investors investment fund. In a deal concluded last month, China’s $653 billion sovereign wealth fund is said to have outbid French commercial property company Unibail-Rodamco and Dutch real estate investment firm. Eight of the centres were in France and two in the Antwerp. 

Source: Kommersant