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China's Sinopec has sold a 50% stake in its Sichuan-East China gas pipeline to China Life Insurance and SDIC's transportation business in a deal that values the asset at 45.6 billion yuan ($6.6 billion). A Sinopec statement on Monday said that China Life Insurance paid 20 billion yuan for a 43.8% stake while SDIC's transportation unit paid 2.8 billion yuan for 6%.
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China's Sinopec has sold a 50% stake in its Sichuan-East China gas pipeline to China Life Insurance and SDIC's transportation business in a deal that values the asset at 45.6 billion yuan ($6.6 billion). A Sinopec statement on Monday said that China Life Insurance paid 20 billion yuan for a 43.8% stake while SDIC's transportation unit paid 2.8 billion yuan for 6%.
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