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Article: CNPC regroups gas business.(M & A, Business & Trade)
- Article from:
- China Chemical Reporter
- Article date:
- August 26, 2009
CopyrightCOPYRIGHT 2009 China National Chemical Information Center. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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China Petroleum Pipeline Bureau (CPPB), a unit of China National Petroleum Corp (CNPC), has put on sale all of its 49% interest in China Oil Zhongtai Gas Co., Ltd. for RMB615.54 million via the Beijing Equity Exchange.
CPPB requested that a buyer must be a stateowned or state-controlled enterprise that engages in the petroleum and natural gas businesses and has good business reputation and the ability to pay. The buyer must be alone one company rather than a consortium, have at least 10 years of experience in urban gas business and be profitable for at least five consecutive years, it said.
CNPC has been consolidating its urban gas operation by putting ...