SINOPEC Engineering (Group) Co., Ltd. Class H (HK:2386) has released an update.
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SINOPEC Engineering (Group) Co., Ltd. has announced a major reorganization of its equity interests involving its subsidiaries and Sinopec Tech, resulting in the acquisition of a 14.65% stake in KSD and the sale of a 28% stake in Sinopec Tech. This transaction will lead to KSD becoming a subsidiary of the group while completely divesting from Sinopec Tech. The deals fall within regulatory reporting requirements but do not necessitate independent shareholder approval.
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