Sinopec sale

Sinopec sells stake in retail unit for $17.4b

Asia’s largest oil refiner sells a 29.99% stake in its retail unit to 25 investors for Rmb107.094 billion in cash.

Sinopec said on Sunday it has sold a 29.99% stake in its retail unit to 25 investors, including Fosun International and ENN Energy Holdings, for Rmb107.094 billion ($17.44 billion) in cash.

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