Mercuria Buys Back Minority Stake From Chinese State-Backed Fund

Mercuria Energy Group Ltd. has bought back its shares that were held by CNIC Corp., marking an end to a decade of minority ownership in one of the world’s biggest commodity traders by companies linked to the Chinese state.

CNIC no longer has any shareholding in Mercuria’s holding company, according to documents seen by Bloomberg News. The company’s billionaire co-founders Marco Dunand and Daniel Jaeggi have also increased their combined stake to 68.21% from about 64% roughly a year ago.