Sovereign wealth funds from China and South Korea are targeting a huge investment in one of the largest shale gas producers in the U.S.
China Investment Corporation and Korea Investment Corp are close to purchasing nearly $1 billion of preferred stock in Chesapeake Energy. This comes just weeks after another Chinese firm partnered in the purchase of $600 million in the company.
Most readers are probably familiar with China's global resource buying spree, but these are some of the country's first large investments directly in U.S-based energy resources.
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