China Oil & Gas Group Announces Strategic Merger and Acquisition Agreement
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China Oil & Gas Group Limited has announced a strategic merger and acquisition agreement involving several companies, including China Oil Investment and Tiandalitong. The agreement includes the acquisition of 100% of China Oil Zhuhai and Tiandashengtong, 51% of Nantong Oil, and 40% of Ganhe China Oil, executed through share issuance and cash payment at RMB3.07 per share. This move aims to enhance the company's asset portfolio and strengthen its competitive position in the oil and gas industry.
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