Political infighting appears to have halted for now China Aviation Oil Singapore Corp’s (CAO) proposed purchase of a 20.6% stake in Singapore Petroleum Company for S$362.2 million. (US$1=S$1.64). In a bizarre development, CAO’s plan was shot down by its parent company, China Aviation Oil Holding Company (CAOHC), which teamed up with dissenters to vote…
SINGAPORE: Political infighting stops China Aviation Oil’s purchase of Singapore Petroleum Company
Posted on November 29, 2004 by EnergyAsia