Announced
PipeChina to acquire PetroChina, Sinopec assets.
Synopsis
PipeChina to acquire PetroChina, Sinopec assets. The $38.3bn deal with PetroChina gave the state oil and gas producer a 29.9% stake in PipeChina and $17bn in cash. The Yulin pipeline cost $455m. Sinopec will also take a 14% ownership stake in PipeChina following the deal’s closure. PipeChina expects both deals to close September 2020.
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