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RRJ Capital acquires stake in China Everbright International

16 Dec 2013

recycle recycling waste green environment energyPrivate equity firm RRJ Capital has bought a stake in waste-to-energy company China Everbright International for $350m.

The firm now owns 318.36m shares, or 7.85 per cent of the business, it revealed in a Hong Kong stock exchange filing, according to Reuters.

Everbright has previously said that it was looking to sell 430m new shares for HK3.66bn ($472m).

Last month it was reported that RRJ was looking to launch a $1bn real estate fund less than a year after closing its second flagship fund on $3.5bn.

That vehicle was the second-largest Asia-based private equity fund at the time, although fell short of its original $5bn target.

The firm’s recent deals include a $248m investment in the US insurance unit of ING Groep, which brought its total stake in the business to 4.4 per cent.

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