HONG KONG (Reuters) - MidAmerican Energy, a unit of billionaire investor Warren Buffett’s Berkshire Hathaway (BRKa.N), is keen on expanding its just-acquired 10 percent stake in China’s BYD (1211.HK) if the opportunity arises, the U.S. firm’s top executive said.
On Saturday, MidAmerican Energy agreed to buy a 10 percent stake in BYD for $230 million, which investors took as a solid endorsement for a rapidly expanding firm that makes everything from hybrid cars to batteries. [nN26317503]
“We are thrilled to make an additional investment, if it makes sense, with BYD,” MidAmerican Chairman David Sokol told reporters when asked if the firm intended to raise its stake in BYD eventually.
Reporting by Alison Leung