China’s Sinopec flogs third of sales business

Chinese oil giant Sinopec has sold nearly a third of its retail arm for 107 billion yen (£11bn). The 29.99% stake is for Sinopec Marketing, which owns petrol stations and […]

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By Vicky Ellis

Chinese oil giant Sinopec has sold nearly a third of its retail arm for 107 billion yen (£11bn).

The 29.99% stake is for Sinopec Marketing, which owns petrol stations and oil pipeline maintenance firms.

The deal with 25 domestic and foreign investors was announced on Friday (12 September).