Global Investors To Acquire 30% Of Sinopec Unit For $17B

Login to View

China’s second largest state-owned oil company, China Petroleum & Chemical Corp. (Sinopec Corp.) says one of its subsidiaries has sold 29.99% of itself to 25 privileged domestic and foreign investors for RMB107.1 billion (US$17 billion), according to a regulatory filing.

As part of China’s effort to bring private capital to diversify its state-owned enterprises, the investment will see Sinopec’s ownership of the subsidiary, Sinopec Marketing Company, decrease to 70.01% from the previous 100%.

China Money Network

UNLOCK DATA
Subscribe & Access the Best Data and Intelligence on Chinese Venture Capital and Tech


Register Now

Want to read this important story?

Access thousands of news articles and data posts over the past 9 years!


Already have an account or paid subscription? Log in

Caishen.Co - Primary Data for China Secondary Investment and Stock Markets

RELATED NEWS



LEAVE A REPLY