Kunlun Energy: China National Petroleum Corporation and China National Petroleum Corporation (Thailand) plan to sell a 51% stake in Nantong CNPC and a 40% stake in Ganhe CNPC to SDSL
Kunlun Energy announced that China National Petroleum Corporation Zhongtai and Shandong SDSL Co., Ltd. signed a letter of intent to sell a 51% stake in Nantong Zhongyou and a 40% stake in Ganhe Zhongyou, with SDSL able to pay through the issuance of shares and cash. The transaction is still under negotiation and may not be finalized. Nantong Zhongyou and Ganhe Zhongyou are primarily engaged in natural gas sales and gas pipeline construction
According to the Zhitong Finance APP, Kunlun Energy (00135) announced that China National Petroleum Corporation (CNPC) and Shandong SDSL Co., Ltd. (Victory Shares) have signed a letter of intent. It is reported that CNPC intends to sell 51% of Nantong CNPC and 40% of Ganhe CNPC to Victory Shares, which can pay the price through the issuance of shares and cash. As negotiations are still ongoing and no legally binding agreement has been established, the above transaction may not be finalized.
It is reported that the main business of Nantong CNPC is natural gas sales and gas pipeline construction. The main business of Ganhe CNPC is natural gas sales and gas pipeline construction
