|

Add a bookmark to get started

18 de marzo de 20214 minute read

DLA Piper advises Kunlun Energy on substantial transactions

DLA Piper has advised Kunlun Energy Company Ltd (Kunlun Energy) on the substantial disposal of its 60% equity interest in the PetroChina Beijing Gas Pipeline Co., Ltd. and a 75% equity interest in PetroChina Dalian LNG Co., Ltd. to the China Oil & Gas Pipeline Network Corporation for a total base consideration of RMB40,89 billion.

The sale by Kunlun Energy is aimed at optimizing its business structure and landscape, to allow it to actively expand its remaining relevant businesses and to progress its transformation from a natural gas distributor to an integrated green energy supplier. The Hongkong and Shanghai Banking Corporation Limited, Citigroup Global Markets Asia Limited and J.P. Morgan Securities (Asia Pacific) Limited are the financial advisers of Kunlun Energy.

Kunlun Energy is listed on the Hong Kong Stock Exchange with its principal activities involved in the sale of natural gas, LNG processing, LNG terminal and transmission of natural gas in the PRC, as well as the exploration and production of crude oil and natural gas in the PRC, Kazakhstan, the Sultanate of Oman, Peru, Thailand and Azerbaijan. The controlling shareholder of Kunlun Energy is PetroChina Company Limited, a large PRC state-owned enterprise in the energy sector, listed on the Hong Kong Stock Exchange, the Shanghai Stock Exchange and the New York Stock Exchange.

Carolyn Dong, DLA Piper’s Head of Energy for Greater China commented: “We are delighted to have advised Kunlun Energy on this transaction. The successful completion demonstrates DLA Piper’s wealth of experience and the strength of our capabilities in the energy sector. We look forward to continuing to support Kunlun Energy in its future domestic and foreign business expansions goals.”

The DLA Piper team is led by Vivian Liu, Head of Capital Market Compliance for Greater China (Beijing) with support from associate Katherine Yang (Hong Kong) and legal assistant Ivy Zou (Beijing), with wider support from its Hong Kong office and Beijing representative office.

Print