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Staff Reporter

, China

Published:

13 years ago

Sinopec and ENN Energy to offer $2.2b cash for China Gas

So how much will each company finance out of that amount?

According to Reuters, ENN will finance 55% and Sinopec will take care of the other 45%.

The companies said they would offer HK$3.50 per China Gas share, or a 25 percent premium to the previous closing price, according to Reuters.

Reuters noted that Sinopec currently holds 4.8 percent of China Gas while ENN Energy does not hold a stake in the company. After the deal, both companies will hold a combined 75 percent.

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