September 5, 2017 / 4:10 PM / a year ago

CIC sells part of stake in Canada's Teck Resources

Sept 5 (Reuters) - A unit of China Investment Corp (CIC) has sold 42 million class B voting shares of Teck Resources Ltd , equal to 7.26 percent of all outstanding Teck shares, in a private transaction, the Canadian miner said on Tuesday.

CIC has advised Teck that it did the transaction in the “ordinary course of its portfolio adjustment”, Teck said in a statement. CIC intends to hold the balance of its Class B Teck shares as a long-term financial investor, the company said.

Reporting by Nicole Mordant in Vancouver

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below