French utility Engie, formerly known as GDF Suez, and China Investment Corp. (CIC) signed a memorandum of understanding on Tuesday during Chinese Premier Li Keqiang's visit to France. The two companies' partnership dates back to 2011 when Chinese state sovereign wealth fund CIC paid ?2.3 billion (then $3.2 billion) for a 30% stake in Engie's upstream business, GDF Suez E&P (IOD Nov.1'11).
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