EMAIL DETAILS

Article below no BHR mention only a matter of time
I think the three of us should have a quick call. I am available anytime
Jimmy

---------- Forwarded message ----------
From: *Michael Leonard* <mleonard@thorntonai.com>
Date: Saturday, March 7, 2015
Subject: A brief mention in the media
To: James Bulger <jbulger@thorntonai.com>


Sinopec completes stake sale to diversify ownership*2015-03-07 11:08*
*Xinhua**Web Editor: Qian Ruisha*
<http://www.ecns.cn/business/2015/03-07/157129.shtml#comment>
0

China's top oil refiner Sinopec announced on Friday that 25 companies have
paid to buy stakes in the energy giant as part of an effort to diversify
state company ownership.

The completion of stake subscription is a concrete step toward a final
mix-ownership of Sinopec's lucrative oil sales arm.

Friday's announcement showed the 25 partners have paid 105.04 billion yuan
($17.1 billion) of 107.09 billion yuan agreed in a previous deal to
Sinopec's sales subsidiary.

One of the investors failed to fully pay due to a lack of sufficient
capital.

Sinopec did not reveal further details and promised to publish any progress
in the cooperation in a timely manner. The company was not available for
immediate comment.

Sinopec unveiled a plan last September to sell 29.99 percent of its sales
arm for 107.09 billion yuan to 25 domestic and overseas companies.

Among those were 11 private companies that were supposed to put in a total
of 38.29 billion yuan, accounting for 35.8 percent of the new investment,
according to the plan.

As China's first state company to pioneer a mixed-ownership reform, Sinopec
announced last February they would solicit private capital as encouraged by
the government in a bid to reshuffle and reinvigorate state-owned assets.

http://www.ecns.cn/business/2015/03-07/157129.shtml

--
Michael R. Leonard
Vice President, Operations Department
Thornton Group LLC
14 Beacon Street, Suite 804A
Boston, MA 02108
Office: 617-248-9440
Mobile: 781-454-9227


--
James J. Bulger
Chairman
Thornton Group LLC
14 Beacon Street, Suite 804A
Boston, MA 02108
Office tel: 617.248.944