HONG KONG Nov 14 China Investment Corporation
(CIC) is in talks to invest in a fund launched by New
Zealand's Fonterra, the world's largest dairy processor, the
Wall Street Journal reported on Wednesday, citing unnamed people
with direct knowledge of the plans.
CIC, China's sovereign wealth fund, is considering an
initial investment of less than $100 million, the Journal added.
Fonterra, a co-operative owned by about 10,500 farmers,
launched the NZ$525 million ($430 million) fund last month,
hoping to lure investors with an expected yield of up to 7
percent. Pricing is slated for Nov. 27.
Fonterra did not immediately return a phone call after
business hours requesting a comment on the Journal story. CIC
had no comment.
($1 = 1.2204 New Zealand dollars)
(Reporting by Elzio Barreto; Additional reporting by Koh Gui
Qing in Beijing)