- PetroChina (PTR -2.4%) parent China National Petroleum will sell $3.8B worth of engineering related assets to listed arm Xinjiang Dushanzi Tianli High & NewTech as part of the group's push to restructure its non-core business.
- CNPC aims to raise up to 6B yuan ($898M) in a private placement of shares to help fund the acquisition.
- CNPC said last week it will sell $11.3B worth of financial assets to another listed arm, Jinan Diesel Engine.
China National Petroleum to sell $3.8B of engineering assets to listed unit
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