Fortune Oil Plc.Big 400 Miollionen US$al mit China
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Wertpapier : GB0001022960
WKN : 887615
Bezeichnung : FORTUNE OIL PLC LS-,01
Handelsplatz : London /England
Stuttgart / Deutschland
Fortune Oil to sell natural gas business to China Gas
Mon, 17th Dec 2012 10:46
(Adds details, updates share movement)
Dec 17 (Reuters) - Fortune Oil Plc said it woul
Fortune Oilk sell its natural gas business to China Gas Holdings Ltd for $400 million, giving it the option to raise its stake in China Gas and remain invested in the high-demand energy sector in the world's second largest economy.
Fortune Oil held an 18.4 percent stake in China Gas as of Nov. 16, primarily through a joint venture formed last year with one of the company's founders.
China Gas, which sells liquefied petroleum gas and piped gas to residential and commercial users in China, will pay Fortune Oil $200 million in cash on completion of the deal and a further $200 million as deferred consideration.
Fortune Oil said it could elect to receive the deferred consideration in China Gas shares. A higher stake in China Gas could also potentially give it a say in the management of the company.
China is moving to double the share of gas in its overall energy supply to more than 8 percent by 2015, when consumption is forecast to reach 260 billion cubic metres (bcm).
'The company intends to be a long-term shareholder in China Gas so as to benefit from the potential growth in this sector in China over the medium term,' Fortune Oil said.
The deal is part of an asset restructuring at China Gas, sources with knowledge of the deal said on Monday. They declined to be identified as they were not authorised to speak to the media.
Net proceeds from the deal would be used to reduce debt, Fortune Oil said in a statement.
Revenue from Fortune Oil's natural gas business was 59 million pounds (about $95 million) for the year ended Dec. 31, 2011.
Shares in Fortune Oil were trading up 26 percent at 11.35 pence at 0955 GMT on the London Stock Exchange. Trading in China Gas shares were suspended in Hong Kong on Monday.
($1 = 0.6204 British pounds)
(Reporting by Alison Lui in Hong Kong and Shilpa Hinduja in Bangalore, Writing by Brenton Cordeiro,; Editing by Alison Leung, Roshni Menon) Keywords: CHINAGAS FORTUNE/
(Shilpa.Hinduja@thomsonreuters.com)(within UK +44 20 7542 1810, outside UK +91 80 4135 6102)(Reuters Messaging: shilpa.hinduja.thomsonreuters.com@reuters.net)
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Related Shares: Fortune Oil (FTO)
The new Guangzhou airport was opened in August 2004. The construction cost was US$2.3 billion and it is almost four times the size of the old airport in downtown Guangzhou. In 2007 the airport handled 31 million passengers and ranks number three for aviation fuel sales in mainland China. Bluesky is now supplying jet fuel to the new FedEx Asia hub, opened at the Guangzhou airport in 2009. The refueling facilities at Bluesky's other airports continue to be expanded to meet the increasing demand for air travel in China.
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Major Shareholders
Beijing Enterprises Group (BVI) Company Limited
Beijing Enterprises Group (BVI) Company Limited is one of the largest state-owned enterprises in Beijing, China. Its main businesses involve the investment, operation and administration of urban infrastructure and public Utility.
SK E&S Co. Limited
A subsidiary of SK Group which is specializing in city gas distribution, power generation and energy-related business and services. It is the largest city natural gas operator in South Korea.
China Gas Group Limited (Jointly owned by Fortune Oil PLC and Mr. Liu Ming Hui)
Fortune Oil PLC, a company listed on the London Stock Exchange Main Market, focuses on oil and natural gas supply, operations and investments in China.
Mr. Liu Ming Hui, Managing Director, President and a founder of China Gas Holdings Limited.
China Petroleum & Chemical Corporation ("Sinopec")
Sinopec is the first Chinese enterprise listed in Hong Kong, New York, London and Shanghai. It is the largest petrochemical manufacturer, distributor, oil refiner and the second largest oil and natural gas producer in China. Among the natural gas enterprises listed in Hong Kong, China Gas is the only one with a major mainland petroleum and natural gas enterprise as a shareholder.
GAIL (India) Limited ("GAIL")
GAIL is an integrated gas company listed on the Mumbai Stock Exchange. It is mainly engaged in the provision, trading, processing, transmission and distribution of natural gas. It also produces and processes propane, pentane and petrochemical products, and controls the entire LPG pipeline network in India. Its cable network lining the entire oil supply system is used to provide value-added services and bandwidth leasing to the telecommunications sector, and to support overseas projects. The Indian government holds controlling stakes in GAIL.
Asian Development Bank ("ADB")
Asian Development Bank is a multilateral development financial institution aiming to reduce poverty, improve social welfare and promote economic development across the Asia Pacific region. Established in 1966, it has 66 member countries, most of which are from the region. ADB has its headquarters in Manila, capital of the Philippines and has 26 offices worldwide employing over 2,000 people in over 50 countries.
Aviation Fuels Air BP ist der weltweit drittgrößte Anbieter von Flugbenzin, Verkauf fast 7 Milliarden US-Gallonen Kraftstoff an über 1.400 Standorten in rund 90 Ländern auf der ganzen Welt. Wir sind zudem der größte Vermarkter von Flugturbinenbau Schmierstoffe weltweit. Air BP ist der erste und einzige große ausländische Ölgesellschaft in der Flugbenzin Zulieferindustrie in China zu betreiben. Air BP hat in China aktiv, wenn er seinen ersten Joint Venture in Shenzhen Chengyuan Aviation Oil Co., Ltd gebildet für die Versorgung seit 1991 von Flugbenzin in Shenzhen Airport mit Partnern China Aviation Oil Supply Co. (CAOSC) und Shenzhen Airport (Group) Co., Ltd Ein zweites Joint Venture - South China Bluesky Aviation Oil Co. Ltd (Bluesky) wurde im Jahr 1998 mit Partnern CAOSC und Fortune Oil gebildet. Das JV liefert Flugbenzin bis 15 Flughäfen in Guangdong, Guangxi, Hunan, Hubei und Henan. Beide Joint Ventures haben ausgezeichnete Sicherheit und haben trotzdem eine Reihe von Auszeichnungen für exzellente operative Leistungen. Der Bau der Betankung Einrichtungen des New Guangzhou Airport, bestehend aus einem 48.000 m3 Transfer Depot, ein 52 km Langlauf-Pipeline, eine 20.000 m3 Service Depot, ein Hydrant Betankungsanlage wurde ohne einen einzigen DAFW (Days Away From Work) abgeschlossen Fall. Air China hat Air BP Schmierstoffe für alle ihre Flotten gewählt. Kontaktieren Sie uns: Chen Min Heng Air BP BP (China) Holdings Limited Guangzhou Branch 7 / F, Jietai Plaza Nr. 218-222, Zhong Shan Liu Lu Guangzhou China 510180 Tel.: (86-20) 8132 0288 Fax: (86-20) 8132 0035
Aviation Fuels Air BP ist der weltweit drittgrößte Anbieter von Flugbenzin, Verkauf fast 7 Milliarden US-Gallonen Kraftstoff an über 1.400 Standorten in rund 90 Ländern auf der ganzen Welt. Wir sind zudem der größte Vermarkter von Flugturbinenbau Schmierstoffe weltweit. Air BP ist der erste und einzige große ausländische Ölgesellschaft in der Flugbenzin Zulieferindustrie in China zu betreiben. Air BP hat in China aktiv, wenn er seinen ersten Joint Venture in Shenzhen Chengyuan Aviation Oil Co., Ltd gebildet für die Versorgung seit 1991 von Flugbenzin in Shenzhen Airport mit Partnern China Aviation Oil Supply Co. (CAOSC) und Shenzhen Airport (Group) Co., Ltd Ein zweites Joint Venture - South China Bluesky Aviation Oil Co. Ltd (Bluesky) wurde im Jahr 1998 mit Partnern CAOSC und Fortune Oil gebildet. Das JV liefert Flugbenzin bis 15 Flughäfen in Guangdong, Guangxi, Hunan, Hubei und Henan. Beide Joint Ventures haben ausgezeichnete Sicherheit und haben trotzdem eine Reihe von Auszeichnungen für exzellente operative Leistungen. Der Bau der Betankung Einrichtungen des New Guangzhou Airport, bestehend aus einem 48.000 m3 Transfer Depot, ein 52 km Langlauf-Pipeline, eine 20.000 m3 Service Depot, ein Hydrant Betankungsanlage wurde ohne einen einzigen DAFW (Days Away From Work) abgeschlossen Fall. Air China hat Air BP Schmierstoffe für alle ihre Flotten gewählt. Kontaktieren Sie uns: Chen Min Heng Air BP BP (China) Holdings Limited Guangzhou Branch 7 / F, Jietai Plaza Nr. 218-222, Zhong Shan Liu Lu Guangzhou China 510180 Tel.: (86-20) 8132 0288 Fax: (86-20) 8132 0035