BP Stake Buyer Is ‘China’s Forex Administration’

From AFP:

Energy giant British Petroleum has confirmed that the buyer of just under one percent of its shares is a Hong Kong branch of China’s State Administration of Foreign Exchange, state media said Wednesday.

A spokesperson in charge of global investor relations said the buyer was Investment Company Limited, formed in 1997 with a registered capital of 100 million Hong Kong dollars (13 million dollars), the Caijing magazine said.

The spokesperson did not disclose any financial details of the deal.



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