Singapore buys $400 mln stake in energy infrastructure firm

Mon May 12, 2008 9:39pm EDT
 
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SINGAPORE, May 13 (Reuters) - Government of Singapore Investment Corp (GIC) has bought an 11 percent stake in U.S.-based energy infrastructure firm AEI for $400 million, a spokeswoman for the Singapore sovereign fund said on Tuesday.

GIC Special Investments, the fund's private equity arm, purchased the shares from AEI and some of its shareholders, AEI said in a statement on its website www.aeienergy.com. A GIC nominee has been appointed to AEI's board.

AEI, a privately held firm, owns and runs energy infrastructure businesses in several emerging markets including China, Mexico and Argentina.

GIC is one of the world's largest sovereign wealth funds with assets estimated to be in excess of $300 billion. (Reporting by Kevin Lim; Editing by Jan Dahinten)

 

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