Herbert Smith Freehills has advised China’s Silk Road Fund Co. Ltd. on a $1.2 billion deal that saw the state-owned investment fund taking a 9.9 percent state in a Russian liquefied natural gas project.
The Chinese government bought from Russian oil and gas producer Novatek, which continues to hold a 50.1 percent interest in the Yamal LNG project in northwestern Siberia. France’s Total S.A. and state-owned China National Petroleum Corp. will each hold 20 percent.
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