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How a Chinese company Czechs out Europe

By investing in a single region but across industries, then jumping

BEIJING -- One of China's leading private oil companies is on a novel diversification path in Europe.

In 2014, CEFC China Energy acquired a 30% stake in the Czech Republic's J&T Banka for 643 million euros ($679 million). Today that stake is 50%. In the intervening years, the company has made a series of other investments in the republic, including one in, an online travel booking site operator. It has also poured money into SK Slavia Praha, one of the country's most storied professional soccer clubs. In addition, it has bought stakes in a brewery, an airline, a media company and a steelmaker, among other businesses.

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