A YEAR OF INVESTMENT FOR CHINA IN BRITAIN
In 2012, Chinese firms gathered steams in investing in Britain eyeing the global role of the country as a financial center and technology sources.
According to statistics, Chinese firms completed some 10 investment, merger and share participation deals in Britain last year, with the total value exceeding 8 billion dollars, exceeding the total value made in the 2009-2011 period.
Major merger and acquisition projects conducted in Britain last year cover such sectors as infrastructure, food and energy.
The investors include China's sovereign wealth fund China Investment Corporation, Brightfood, Sinopec, CNOOC and Huawei, whose investments have expanded from traditional financial services to food production, high-end manufacturing and aviation.
China Investment Corp. (CIC) bought 8.68 percent stake in British utility company Thames Water at 1.8 billion dollars in January, a 10 percent stake in the operator of London's Heathrow Airport at 720 million dollars in November, expanding its investments in British infrastructure.
Shanghai-based Bright Food Group, one of China's leading food groups, bought 60 percent stake of Weetabix, a cereal maker in Britain at a cost of 1.15 billion dollars, which is regarded as the largest overseas acquisition by a Chinese food company.
Sinopec, Asia's largest oil refiner, announced in July that it had reached an agreement through its subsidiary with Canadian company Talisman Energy Inc. to acquire a 49 percent equity interest in Talisman's assets in the North Sea for 1.5 billion dollars.
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