PE group invests in Sinopec fuel retail unit
A group of private equity investors, including CICC Capital, RRJ Capital and Hopu Investment Management, have invested in Hong Kong-listed Sinopec as the Chinese oil refiner agreed to sell a RMB107.1 billion ($17 billion) stake in its retail business.
Sinopec said in a regulatory filing that the retail unit - Market Corp - will sell a combined 29.99% stake to 25 investors. CICC Private Equity will invest RMB6 billon for a 4.2% stake via three investment...
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