PetroChina Company (HK:0857) has released an update.
PetroChina Company Limited, through its wholly-owned subsidiary Daqing Oilfield, has signed an agreement on August 26, 2024, to acquire the entire equity interest in CNPC Electric Energy for RMB 5.979 billion. This strategic acquisition will result in CNPC Electric Energy becoming an indirect wholly-owned subsidiary, with its financial results being consolidated into PetroChina’s financial statements. The deal is classified as a connected transaction according to HKEx Listing Rules due to shared control within the company structures but does not require circular or independent shareholder approval.
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