December 17, 2012 / 3:40 AM / in 5 years

China Gas to buy Fortune Oil's China gas biz for $400 mln-sources

HONG KONG, Dec 17 (Reuters) - Gas distributor China Gas Holdings Ltd plans to buy London-listed Fortune Oil’s gas business in China for HK$3.1 billion ($400 million), sources with knowledge of the deal said on Monday.

The deal is part of an asset restructuring at China Gas, the sources said. They declined to be identified as they were not authorised to speak to the media.

Shares of China Gas was suspended on Monday morning. Both China Gas and Fortune Oil declined to comment.

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