December 11, 2015 / 11:42 AM / 3 years ago

China's Sinopec to pay $1.3 billion for 10 percent stake in Russia's Sibur

MOSCOW (Reuters) - China Petrochemical Corporation (Sinopec Group) will buy up to 20 percent in Sibur, Russia’s top petrochemical company, Igor Artemyev, head of Russian antimonopoly watchdog, told reporters on Friday.

A customer gets the tank of her car filled at a Sinopec gas station in Qingdao, Shandong province September 11, 2014. REUTERS/Stringer

He added that for the first 10 percent, Sinopec will pay $1.338 billion, while it would acquire another 10 percent within next three years.

Reporting by Denis Pinchuk Katya Golubkova

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below