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Buffett buys BYD stake

By admin - Posted on September 30th, 2008
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MidAmerican Energy, 87.4 per cent owned by Mr Buffett's Berkshire Hathaway, will buy 225m shares in the Shenzhen-based company for HK$1.8bn ($230m) at a 4.76 per cent discount to the stock's closing price of HK$8.4 last Friday.The purchase marks the first large investment by Mr Buffett in China after Berkshire Hathaway last year sold its entire stake in PetroChina.

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