LONDON (MNI) – The National Treasury Management Agency (NTMA) and
CIC International, a subsidiary of China Investment Corporation, China’s
sovereign wealth fund, have signed a memorandum of understanding to work
together in exploring investment opportunities in Ireland.
In an emailed press release from the NTMA, said the memorandum was
signed in the Great Hall of the People in Beijing by Chairman Lou Jiwei
on behalf of CIC International and by John Corrigan, Chief Executive, on
behalf of the NTMA. Chinese Premier Wen Jiabao and Taoiseach Enda Kenny
were present at the ceremony.
“The memorandum builds on the existing dialogue between the NTMA
and CIC International, and provides a framework for future co-operation
in terms of exchanging information and identifying suitable investment
or co-investment opportunities for CIC in Ireland”, said the press
release.
NTMA Chief Executive John Corrigan said: “This memorandum
represents a major initiative for enhanced co-operation and engagement
in areas of common interest and we very much look forward to working
with CIC International.”
CIC Chairman Lou Jiwei said: “CIC International is a financial
investor and seeks stable and sound financial returns over the long run.
The memorandum signed today reflects our strong working relationship and
shared commitment. It will be of valuable assistance for us in
identifying and assessing potential opportunities in Ireland.”
–London newsroom: +442078627494; email: nshamim@marketnews.com
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