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CPP sells stakes in subsidiary

(Gaschina.com.cn)
Updated: 2009-05-22 17:11

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China Petroleum Pipeline Bureau on April 2 began to sell entire stakes in its subsidiary CNPC Pipeline Gas Investment Co. Priced at 670 million yuan, the entire stake is expected to be sold to CNPC-related firms.

CNPC Pipeline Gas Investment Co was founded on November 15, 2005, with a registered capital of 500 million yuan. The company's main businesses cover urban natural gas, building urban natural gas pipeline networks, and selling and managing natural gas.

The bureau also set a higher threshold for potential bidders. Interested parties should be State-owned or State-controlled enterprises in the natural gas business and have complete industrial chains to ensure natural gas supply, with no less than 3 billion yuan in registered capital...

 

The full text is available in the May Issue ofChina Gas. Please visitpublications for more subscription details.