Sinopec Studying BP's Terms for SECCO JV Exit Plan

Source: Reuters 8/10/2016, Location: Asia

State-owned China Petroleum & Chemical Corp (Sinopec) is currently discussing the conditions put forward by British oil and gas major BP plc for its planned exit from their SECCO petrochemicals joint venture, a Sinopec spokesman told Reuters on Tuesday.

Reuters earlier reported that BP has hired an investment bank to find buyers for its 50 percent stake in SECCO, a deal that could fetch up to $3 billion.

The Sinopec spokesman said the company had not made a decision on whether to buy BP's stake.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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