China Three Gorges Mulls $4 Billion Stake Sale in Overseas Unit
- State-owned firm approached funds including CIC, GIC
- Sale would help advance ownership reform, reduce debt
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China Three Gorges Corp. is exploring selling a stake worth as much as $4 billion in the state-owned power company’s overseas asset portfolio, according to people familiar with the matter.
The power giant has approached sovereign funds including Singapore’s GIC Pte and China Investment Corp. about potentially acquiring a minority interest representing between 10% and 20% of China Three Gorges’ international assets, said the people, who asked not to be identified because the matter is private.