Bloomberg: Sinopec Sells $17.5 Billion Stake in Fuel Retail Unit

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From Bloomberg, Sep 14, 2014, 10:00:00 PM
The fuel-station business is a “huge gold mine” whose full potential “hasn’t been tapped,” Sinopec Chairman Fu Chengyu said on a March conference call with analysts. Photographer: Jerome Favre/Bloomberg
China Petroleum & Chemical Corp. (386), Asia’s top refiner, agreed to sell a 107 billion yuan ($17.5 billion) stake in its retail business to a group of investors including China Life Insurance Co.

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Devon Archer
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