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8 months ago
BRIEF-Sinopec sells 50 pct gas pipeline stake for 22.8 bln yuan to China Life Insurance, SDIC's unit
December 12, 2016 / 11:09 AM / 8 months ago

BRIEF-Sinopec sells 50 pct gas pipeline stake for 22.8 bln yuan to China Life Insurance, SDIC's unit

Dec 12 (Reuters) - China Petroleum & Chemical Corp

* Says it sells 50 percent stake in Sichuan-East China gas pipeline for 22.8 billion yuan ($3.30 billion) to China Life Insurance, SDIC's transportation unit

* Says China Life Insurance will hold 43.86 percent stake in gas pipeline, SDIC's unit will have 6.14 percent stake after transaction

Source text in Chinese: bit.ly/2hkTBjR

Further company coverage: ($1 = 6.9125 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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