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News Breaks | | | | September 24, 2012 | | 08:04 EDT |  | LPH | Longwei Petroleum to complete purchase of Huajie assets by end September
Longwei Petroleum Investment Holding announced that it will complete the purchase of the assets of Huajie Petroleum Co., a fuel storage depot in northern Shanxi Province with a 100,000-metric-ton storage capacity, by the end of this month. Longwei will acquire the assets of Huajie for a total purchase price of $110.6M. The company has agreed with the seller that the final payment of $23.7M will be paid on or before September 30. The company currently has paid approximately $86.9M on deposit for the purchase. | |
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