16 May 2012 08:24 [Source: ICIS news]
SINGAPORE (ICIS)--Hong Kong-listed China Resources Gas (CR Gas) said on Wednesday that it has agreed to fully acquire AEI China Gas for a base price of $238m (€188m) to expand its presence in Chinese city gas markets.
A share purchase agreement was signed on 15 May between Thousand Victory Investments, a wholly owned subsidiary of CR Gas, and AEI Asia, the sole shareholder of AEI China Gas, according to a CR Gas statement.
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“The acquisition is part of our ongoing expansion strategy with the aim of becoming the market leader in the downstream city gas industry,” it said.
($1 = €0.79)
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