The Children’s Investment Fund has sold its 9.9 per cent stake in J-Power back to the company, ending one of the most contentious relationships between a Japanese company and a foreign fund.

J-Power, Japan’s biggest electricity wholesaler, said it had agreed to buy back TCI’s stake on the hedge fund’s request for Y63bn ($640m), or Y3,830 a share, compared with Friday’s closing price of Y2,895.