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ENN Energy Holdings Ltd. (XNGSF)

- Grey Market
  • Oct. 15, 2012, 8:25 AM
    With regulatory hurdles too high, state-owned Sinopec (SNP) and ENN Energy (XNGSF.PK) drop their $2.2B hostile bid for home-country natgas operator China Gas (CGHOF.PK). All's not lost, though, as China Gas goes for a strategic co-op agreement letting Sinopec sell gas directly to Chinese homes, and allowing for future share buys. (previously)
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  • Aug. 6, 2012, 12:42 PM
    Sinopec (SNP +3.2%) and ENN Energy (XNGSF.PK) extend their $2.2B bid for China Gas by another month, as they seek regulatory approvals to proceed with Hong Kong's first unsolicited takeover attempt. But it may turn out that the government is waiting for a higher offer, and those pesky regulations might just fade away.
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  • Jun. 28, 2012, 8:26 AM
    The $2.15B bid for China Gas Holdings (CGHOF.PK) by Sinopec (SNP) and ENN Energy Holdings (XNGSF.PK) is dealt a blow when a major China Gas shareholder raised its stake at a higher share price. Sinopec and ENN are offering HK$3.50/share, a price China Gas has said fails to reflect the company's fundamental value.
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  • Dec. 15, 2011, 3:00 AM
    Sinopec (SNP) says it's "not the time" to talk about raising its joint $2B bid with ENN Energy (XNGSF.PK) for China Gas (CGHOF.PK), even though China Gas rejected the offer yesterday for failing to reflect the company's fundamental value. Analysts believe the rejection could open the door to a rival bidder, and then Sinopec would be forced to reconsider its price.
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  • Dec. 14, 2011, 11:10 AM
    China Gas (CGHOF.PK) rejects a HK$16.7B ($2.15B) unsolicited joint bid from Sinopec (SNP) and ENN Energy (XNGSF.PK), saying it fails to reflect the fundamental value of the company.
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  • Dec. 13, 2011, 9:40 AM
    Sinopec (SNP) and piped-gas distributor ENN Energy (XNGSF.PK) plan to spend up to HK$16.7B ($2.15B) to buy the outstanding shares in China Gas Holdings (CGHOF.PK), with the deal part of Sinopec's efforts to turn into a global energy giant. China Gas hasn't decided whether it will recommend the bid.
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Company Description
Engaged in urban pipelined gas business in 1992, ENN Energy Holdings Ltd. (formerly known as XinAo Gas Holdings Limited, stock code: 2688.HK) is one of the largest distributors of clean energy in China.
Sector: Utilities
Industry: Water Utilities
Country: China