HONG KONG (AFX-ASIA) – Hong Kong-listed China Petroleum and Chemical Corp (Sinopec)(386.HK) will pay 230 million yuan in cash to purchase a new unit, Yanhua Group Tianjin Lubricant & Grease Co Ltd, from its parent China Petrochemical Corp (Sinopec Group Co). The acquisition will give Sinopec 100% ownership of the issued shares of Yanhua Group…

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