Beijing Enterprises to Buy China Gas Stake From Parent
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Beijing Enterprises Holdings Ltd. said it will pay HK$8.22 billion ($1.1 billion) to its state-owned parent for a stake in China Gas Holdings Ltd., a supplier of natural gas to 184 Chinese cities.
The company will pay HK$7.80 a share to Beijing Enterprises Group for 22.01 percent of China Gas, Hong Kong-based Beijing Enterprises Holdings said today in a statement. That’s 12 percent less than yesterday’s closing price of China Gas.