Seeking Alpha

Sinopec reportedly picks Goldman Sachs for $30B unit sale

  • Sinopec (SNP) is working with Goldman Sachs (GS) on the sale of a 30% stake in its retail assets, which includes China’s biggest network of fuel stations, Bloomberg reported earlier.
  • Such a deal could raise as much as $30B, which would be the biggest asset sale by a Chinese state-owned company.
  • China Petrochemical, SNP's parent company, raised $5B yesterday from the biggest offering of dollar-denominated notes by an Asian issuer in more than a decade; Goldman was among banks that arranged the bond sale and was sole manager of SNP’s $3.1B share offering in Hong Kong last year.
Comments (3)
  • al roman
    , contributor
    Comments (4602) | Send Message
     
    Congrats.
    3 Apr, 05:04 PM Reply Like
  • pat walsh
    , contributor
    Comments (209) | Send Message
     
    GS smartest people in the room.
    3 Apr, 08:02 PM Reply Like
  • Zack Barkley
    , contributor
    Comment (1) | Send Message
     
    Or the dumbest. They are good at short-term gains and capitilizing on profits for the sake of profit alone without looking at the long term benifits or detriments to our economy or world at large...in other words parasites. This is not their fault but the way the system rewards such types. Intelligence without wisdom is actually more damaging than simple stupidity. Animals are dumb, yet they've been around for billions of years. I doubt the same will be true for human beings.
    7 Apr, 04:02 PM Reply Like
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