Skip to content
Subscriber Only
Opinion
Nisha Gopalan

Anbang Echoes at CEFC Cloud Rosneft

A reported probe of the energy trader's founder casts doubt on the $9 billion purchase.
Crude Oil Drilling Operations As Russia Sells $11 Billion Stake In Rosneft PJSC
Photographer: Andrey Rudakov/Bloomberg
Updated on

China's clampdown on financial risk, which has already forced a great unwinding of overseas acquisitions by privately controlled conglomerates, may be about to claim another casualty.

News that the founder and chairman of CEFC China Energy Co. has been investigated by authorities throws into question the fate of a 14 percent stake in Russia's Rosneft PJSC that the Chinese company agreed to buy in September. The $9 billion deal, China's biggest international oil purchase since 2012, has yet to close.