March 9, 2018 / 7:47 AM / 2 months ago

S.Africa's competition watchdog approves Sinopec, Chevron deal

JOHANNESBURG, March 9 (Reuters) - South Africa’s Competition Tribunal on Friday approved, subject to conditions, a deal for China’s Sinopec Corp to buy Chevron’s assets in South Africa and Botswana.

State-owned Sinopec was competing for the assets with commodities trader and miner Glencore, which swooped in last October with a $973 million bid following delays to Sinopec’s original agreement. (Reporting by Nqobile Dludla Editing by Joe Brock)

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