China Oil & Gas Group Announces Asset Acquisition Intent
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China Oil & Gas Group Limited (HK:0603) has announced a letter of intent for asset acquisition involving its subsidiaries. Shengli Share plans to acquire equity interests in four target companies through share issuance and cash payment, pending due diligence and regulatory approvals. This strategic move aims to streamline its asset portfolio and enhance industry positioning. The company, incorporated in Bermuda, focuses on the oil and gas sector, particularly natural gas investments. Current market cap is HK$666.2M, with a year-to-date price performance of -19.43%.
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