China Investment Corporation (CIC), China's sovereign wealth fund, announced on Thursday that its subsidiary has purchased a 10-percent stake in Heathrow Airport Holdings, Xinhua News Agency reported.
The British company, previously known as BAA Ltd., manages London's Heathrow International Airport and other British air hubs. The deal marks CIC's second investment in British infrastructure, as the company also holds an 8.68-percent stake in Thames Water, the largest water supply and waste water treatment company in the UK, according to the news agency.
CIC posted a one-sentence statement on its website about the deal without providing any financial details. The sovereign wealth fund was founded in Sept. 2007 with a registered capital of 200 billion U.S. dollars amid hopes of making better use of China's huge foreign exchange reserves, the news agency said.
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