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China's CEFC to create joint investment fund with Russia's Rosneft
October 24, 2017 / 11:34 AM / 2 months ago

China's CEFC to create joint investment fund with Russia's Rosneft

MOSCOW, Oct 24 (Reuters) - CEFC China Energy and Russian oil giant Rosneft plan to create a Chinese-Russian joint investment fund, CEFC President Chan Chauto told an investment conference in Moscow on Tuesday.

The two companies will work together to further develop the cooperation between Russian and Chinese companies in different sectors, he added.

CEFC is in talks with Russian state bank VTB to raise around $5 billion in loans to finance the acquisition of a stake in Rosneft, a banking source familiar with the talks told Reuters earlier on Tuesday. (Reporting by Denis Pinchuk and Polina Nikolskaya; writing by Polina Devitt; editing by Katya Golubkova and David Evans)

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