Al Gore-chaired fund sells Camco Intl 20 pct stake

LONDON, Sept 29 Wed Sep 29, 2010 8:10am EDT

LONDON, Sept 29 (Reuters) - A sustainable investment fund chaired by former U.S. Vice President Al Gore sold a roughly 20 percent share in carbon offset aggregator Camco International CAMIN.L this week, a regulatory filing showed.

The statement, filed late on Tuesday, said Generation Investment Management LLP offloaded all of its 34.5 million shares, representing 19.6 percent of the firm, as of Monday's market close.

Officials at Generation IM could not be immediately reached for comment.

Camco develops clean energy projects in developing countries under the Kyoto Protocol's carbon finance schemes.

The shares were probably sold to Khazanah Nasional, a Malaysian government investment arm that has formed a joint venture with Camco to develop projects in Southeast Asia. [ID:nLDE68Q0CD]

Khazanah on Monday said it would invest 1.86 million pounds ($3 million) for 9.28 million Camco shares.

It also said it would buy a further 19.6 percent stake in the secondary market, giving it a final holding of around 24 percent and making it Camco's biggest shareholder. Camco shares were unchanged at 18 pence at 1205 GMT, up from 14.5p on Friday but well below all-time highs of 97p hit in May 2007. (Reporting by Michael Szabo; Editing by Jane Baird)

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