Hong Kong-listed China Resources Gas Group announced yesterday it would buy Chinese gas distributor AEI China Gas for $237.7 million from a group of investors, including Goldman Sachs.
China Resources Gas is a unit of state-owned China Resources Holdings and it said in a statement that the deal will help it further expand its downstream city gas operations in the country. AEI China Gas, which mainly operates city gas pipelines has 28, city gas projects, eight gas stations and four midstream gas transmission pipeline projects in 11 provinces across China. China Resources Gas currently has 73 city gas projects in 16 provinces in China.
The deal...
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