Sinopec Agrees to Sell $3.3 Billion Pipeline Stake to China Life and SDIC Division
China Petroleum & Chemical Corporation (Sinopec) has sold a 50% ownership stake in a pipeline unit, Sinopec Sichuan-to-East China Gas Pipeline Co., to two investors, China Life Insurance Co. and a division of the State Development & Investment Corporation (SDIC) called SDIC Communications Holding Co., Ltd. for a total of 22.8 billion RMB (US$ 3.3 billion). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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