March 9, 2018 / 4:06 PM / 5 months ago

Chinese group CEFC's European unit boosts capital

PRAGUE, March 9 (Reuters) - CEFC Group (Europe), part of China’s CEFC China Energy, has raised its capital by 13.50 billion crowns ($653.3 million), the Prague-based unit said on Friday.

“The parent company based in Hong Kong has expressed the importance it gives to European projects with the capital strengthening,” CEFC Group (Europe) said. “Raising the capital of the firm is a signal that the company is a stable and credible partner.”

CTK news agency reported the increase brought its capital to 14.65 billion crowns. ($1 = 20.6640 Czech crowns) (Reporting by Jason Hovet, editing by David Evans)

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