China's Sinopec to pay $900m for 75% stake in Chevron Africa assets

摘要

SINGAPORE (ICIS)--China Petroleum and Chemical Corp (Sinopec Corp) will pay $900m for 75% of Chevron Corp’s assets in Africa, the Chinese producer said late on Wednesday. The deal marks Sinopec’s first refinery asset in Africa, it said in a statement. Hong Kong-listed Sinopec Corp is a subsidiary of Chinese state-owned energy giant Sinopec Group. The remaining 25% of the South African assets will continue to be held by a local consortium.