New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 24, 2013
19:36 EDTSNPSinopec and parent company in $3B upstream JV
In a press release Sinopec announced that to further strengthen the resource reserves, oil and gas production and operating efficiency of Sinopec's upstream business, and enhance the long-term, balanced and sustainable development of its up, mid and down-stream businesses, the board passed a resolution to form a 50:50 joint venture company between the two wholly-owned subsidiaries of the company and the Group, respectively. The JV HK will use its own funds and loans to acquire the equity interests of a number of overseas oil and gas assets owned by Sinopec Group for a total consideration of approximately USD$3B, of which the company will be responsible for approximately USD$1.5B as a 50% JV HK partner. The company will exercise effective control over the JV HK in accordance with the contractual arrangements.
News For SNP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for SNP

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use