Kuwait Petroleum's stake investment in China Wanhua Chemical's unit valued at $638 mln
ReutersApr 28, 2025 5:49 AM
SINGAPORE, April 28 (Reuters) - Kuwait Petroleum subsidiary's acquisition of a 25% stake in China Wanhua Chemical's petrochemical business is valued at $638 million, Wanhua Chemical said on Monday.
Petrochemical Industries Company, a subsidiary of Kuwait Petroleum, announced the deal on Saturday, but did not give a value for the transaction.
PIC's investment is on the petrochemical unit of China's Wanhua Chemical 600309.SS.
Citigroup C.N is advising Petrochemical Industries Company on the acquisition.
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