Sinopec plans to sell 50% stake in Shanghai SECCO Petrochemical

MOSCOW (MRC) -- Sinopec is offering to sell a 50% stake in Shanghai SECCO Petrochemical for Chinese yuan (CNY) 10.3bn (USD1.6bn), said the company. The 50% stake includes 15% that is owned directly by Sinopec and 35% owned by its subsidiary Sinopec Gaoqiao Petrochemical. Shanghai SECCO was formed in 2001 as a joint venture between BP East China (50%), Sinopec (30%) and Sinopec ShanghaiPet

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