January 11, 2018 / 4:05 PM / in 9 months

BRIEF-S.Africa Govt Reaches Agreement On Public Interest Issues On Sinopec's Acquisition Of Control Of Chevron South Africa

Jan 11 (Reuters) - S.Africa Government:

* SOUTH AFRICAN GOVERNMENT REACHES AGREEMENT ON PUBLIC INTEREST ISSUES ON POTENTIAL ACQUISITION OF CONTROL OF CHEVRON SOUTH AFRICA BY SINOPEC

* TRANSACTION IS NOW SUBJECT TO FINAL REGULATORY CONSIDERATION AND RESOLUTION OF A RIGHT OF FIRST REFUSAL BY MINORITY SHAREHOLDERS

* SINOPEC TO INVEST 6 ‍BLN RAND IN SOUTH AFRICA TO UPGRADE AND MODERNISE CAPE TOWN-BASED OIL REFINERY OWNED BY CHEVRON SOUTH AFRICA

* ‍SINOPEC HAS ALSO UNDERTAKEN TO USE SOUTH AFRICA AS ITS BASE TO EXPAND ITS AFRICAN REFINING AND DOWNSTREAM BUSINESSES IF DEAL SUCCEEDS Further company coverage:

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