China's oil investment of 400 million yuan to acquire 4.356% of PetroChina fuel oil
Source: Internet
Author: User
KeywordsEquity fuel oil medium oil
NetEase Financial November 25 News China oil Thursday Evening issued a notice that the company to cash about 400 million yuan to acquire oil and Fuel Oil Co., Ltd. 4.356% of the equity. November 25, 2010, PetroChina and China Petroleum Group subsidiary of China United Oil Co., Ltd. signed a purchase agreement, with a cash of 392.25 million yuan (about HK $456.1 million) to acquire its fuel oil company held a 4.356% stake. PetroChina said the company had a 95.644% per cent stake in the fuel oil company prior to the takeover. After the acquisition is completed, the company will have 100% stake in the fuel oil company. The announcement shows that the oil company is mainly engaged in domestic asphalt, fuel oil and other investment and development. PetroChina Group is a controlling shareholder of PetroChina, and China Joint Oil Co., Ltd. is a subsidiary of PetroChina Group.
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