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CIC sells part of stake in Canada's Teck Resources
September 5, 2017 / 4:10 PM / 2 months 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

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