July 30, 2019 |
China's Silk Road Fund has taken a stake in the Argentine power company YPF Luz through an arrangement with General Electric (GE), the US conglomerate's legal adviser, Shearman & Sterling, confirmed to LatinFinance.
GE transferred its 25% stake in YPF Luz, a division of the state-owned energy company YPF, to BNR Infrastructure Investment, a company it owns with the Silk Road Fund.
The Chinese government set up the Silk Road Fund to manage investments for the Belt and Road Initiative (BRI).
GE transfers its 25% share in the Argentine power company to a firm it owns with the Silk Road Fund