Sinopec Kantons completes acquisition of Fujairah Oil Terminal

04 January 2013 03:30  [Source: ICIS news]

SINGAPORE (ICIS)--Sinopec Kantons on 3 January completed the acquisition of a 50% interest in United Arab Emirates-based Fujairah Oil Terminal (FOT), the company said late on Thursday.

The $25m (€19.3m) acquisition was made through Sinomart Development, a wholly-owned subsidiary of Sinopec Kantons, it said.

An agreement on the deal was signed on 9 January 2012, the company added.

($1 = €0.77)

By: Fanny Zhang
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