May 16, 2012 / 12:35 AM / 5 years ago

China Resources Gas says to buy AEI China for $237.7 mln

HONG KONG, May 16 (Reuters) - China Resources Gas Group Ltd said it had agreed to buy city gas pipeline operator and distributor AEI Chinas Gas Ltd for $237.72 million, as it seeks to expand its core business of downstream city gas operations in mainland China.

In a filing to the Hong Kong bourse, China Resources Gas said it would buy the entire issued share capital of AEI China from AEI Asia Ltd.

AEI China operates 28 city gas projects, eight gas stations and 4 midstream gas transmission pipeline projects in 11 provinces in China, the statement said.

For statement please click here

Reporting by Donny Kwok; Editing by Jonathan Hopfner

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