- Sinopec (SNP) reportedly has invited banks to pitch for handling the sale of part of its retail assets of thousands of gas stations and convenience stores.
- SNP has said it would allow outsiders to own up to 30% of the retail business, which Barclays believes is worth more than $20B and could attract the interest of supermarket operators.
- To improve their share performance, SNP and PetroChina (PTR) are restructuring their volatile downstream refinery and marketing businesses, including the gas stations, by introducing outside investors.
China Petroleum & Chemical Corporation (Sinopec) (SNP): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report
at Zacks.com (Nov 7, 2014)