//
you're reading...
China Daily Mail


China News

Beijing Enterprises Group (BJEG) again increased its stake in China Gas Holdings Ltd, a takeover target of Sinopec), raising the prospect of a bidding war between the two state-controlled companies.

BJEG, the state parent of utility Beijing Enterprises Holding, snapped up HK$663 million ($85.4 million) of shares in China Gas on Monday, raising its holding to 12.65 percent, according to the Securities and Futures Commission of Hong Kong. That followed its purchase of a 5.4 percent stake from Oman Oil last week that took its share to nearly 9 percent.

BJEG, engaged in gas distribution, water, infrastructure, toll road operation and beer production, has not made public its motive behind the acquisitions. Jimmy Tam, executive director of Beijing Enterprises Holding, on Friday described the stake purchase from Oman Oil as “a valued investment.”

China Gas late last year received an unsolicited $2.2 billion takeover offer from Sinopec and…

View original post 436 more words

About Craig Hill

General Manager at Craig Hill Training Services * Get an Australian diploma by studying in your own country * Get an Australian diploma using your overseas study and work experience * Diplomas can be used for work or study in Australia and other countries. * For more information go to www.craighill.net

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

writer@craighill.net

Join 1,662 other followers

An archive of all my old posts

Follow me on Twitter

I also have a news site about China:

%d bloggers like this: