China Petroleum & Chemical Corporation (Sinopec), one of Asia’s largest oil refiners, has offered to buy the remaining 30% that it does not already own in subsidiary Beijing Yanhua Petrochemical Company. At HK$3.80 a share, Sinopec will pay HK$3.846 billion (US$492 million) for the stake. Sinopec said it will effect the purchase through Beijing…
CHINA: Sinopec offers to buy out Yanhua Petrochemical unit for HK$3.846 billion
Posted on January 13, 2005 by EnergyAsia