[17], In May 2015, the company acquired a 5% stake in J&T Finance Group. The Chinese firm did however strike a … Bloomberg. [5][6] In March 2020 the company was declared bankrupt as well as its subsidiaries CEFC Shanghai International and CEFC Hainan International. Why an Enigmatic Chinese Company Just Spent $9 Billion on a Stake in Rosneft. The Senate report said that a subsidiary of CEFC China Energy called CEFC Infrastructure Investment had wired $100,000 to Hunter Biden’s law firm, Owasco. Who’s that 39-year-old paying HK$1.4 billion for three office floors? The company used complex web of affiliated companies to facilitate fake deals, inflate trade figures and obtain bank loans … [22][23] CEFC also bought a stake of between 50 and 90 per cent in Czech online travel agent Invia in March 2016, probably with a view to capitalising on the rapidly increasing numbers of Chinese tourists visiting Prague. The company was among the 10 largest private companies in China in 2014. [8], The South China Morning Post in a 2017 piece on Ye repeated rumors that had appeared in Czech news media that Ye is linked to the People's Liberation Army and noted "speculation runs wild". [25], In September 2017 CEFC announced the purchase of a 14.16% stake in Rosneft, Russia's largest oil producer, for about $9 billion. In March 2020 the company was declared bankruptas well as its subsidiaries CEFC Shanghai International and CEFC Hainan International. [30] Several days later, CEFC Shanghai defaulted on $327 million in bond payments, and offered to make the payments six months after the maturity date. Privately-held CEFC China Energy Co Ltd, the ownership of which remains unknown, was apparently trying to get a piece of the action. Log in to see them here or sign up to get started. Copyright © 2020 MarketWatch, Inc. All rights reserved. Subscriber Agreement & Terms of Use,
Cookie Notice. [20][21], In September 2015, the company acquired multiple assets in the Czech Republic - a majority stake in brewery Pivovary Lobkowicz Group [cs], a 10% stake in airline Travel Service, 60% in football club SK Slavia Prague and real-estate assets in Prague - the building of the former Živnostenská banka at Na příkopě street and Le Palais Art Hotel Prague. By using this site you agree to the
The company was among the 10 largest private companies in China in 2014. "China detains oil entrepreneur, wiping US$153 million off stocks", "China's CEFC chairman investigated for suspected economic crimes: Source", "China takes over nation's biggest private oil group in debt crackdown", "China's CEFC taken over by Shanghai government agency: SCMP report", "CEFC China's chairman to step down; CITIC in talks to buy stake in unit", "Down and out: CEFC staff go unpaid as once-high flying company flounders", "China's CEFC takes stake in Czech-Slovak J&T Finance Group", http://ekonomika.idnes.cz/cinska-cefc-zvysila-podil-v-j-t-na-deset-procent-chce-30-procent-pu0-/ekonomika.aspx?c=A150903_135502_ekonomika_rts, "China's CEFC hits regulatory hurdle in pursuit of Czech JTFG stake:...", "CEFC faces obstacle to Czech purchase of J&T Financial Group stake | Radio Prague", "China's CEFC adds to Czech buying spree with airline, brewery deals", "Chinese firm CEFC buys majority stake in Slavia Praha", http://ekonomika.idnes.cz/cinska-skupina-cefc-ovladne-on-line-obchodnika-se-zajezdy-invii-pvn-/ekonomika.aspx?c=A160322_173841_ekonomika_rts, "How China Influences Media in Central and Eastern Europe".