China Aviation Oil to undergo shareholder restructuring
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China Aviation Oil (Singapore) Corporation announced that its controlling shareholder, China National Aviation Fuel Group (CNAF), will undergo a corporate restructuring after receiving approval from the State Council of China. The restructuring involves China Petrochemical Corporation (Sinopec) and is pending further regulatory approvals. CNAF retains a 51.31% stake in China Aviation Oil, ensuring its status as the controlling shareholder. The company stated that the restructuring is not expected to materially affect its normal business operations.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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