The scale and pace of investment by Chinese companies across the African continent is picking up, with South African financial services group Standard Bank alone responsible for advising Chinese companies on recent deals worth more than R10-billion.
Two large deals were concluded in 2011, namely the US$1.3-billion sale of mining company Metorex to Jinchuan and the sale of a 25% stake in black economic empowerment (BEE) investment holding company Shanduka to China Investment Corporation for R2-billion.
Closer to home, Standard Bank was also recently worked with the Industrial and Commercial Bank of China (ICBC) to provide funding to the value of $835-million for the Morupule B Power Project in Botswana.
Standard Bank’s close relationship with ICBC stems from the Chinese bank having purchased a 20% stake in Standard Bank in 2007 for about $5.5-billion.
Read more:http://www.southafrica.info/africa/africachina-180112.htm#ixzz1jpMXaqlo