Baosteel, Warburg Pincus buy Chinese gas assets

Shanghai Baosteel Gases and Warburg Pincus are buying Chinese industrial gas assets for $488m in a partnership designed to seek investment opportunities as China reforms SOEs.
A Baosteel Gases factory
A Baosteel Gases factory

China’s Shanghai Baosteel Gases and global private equity firm Warburg Pincus said on Tuesday they have agreed to buy industrial gas assets from state-controlled Henan Jinkai Chemical Investment Holding for Rmb3 billion ($488 million).

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