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Beijing Enterprises to Buy 29% in PetroChina Jingtang LNG From Parent

By Joanne Chiu Dow Jones Newswires

Beijing Enterprises Holdings Ltd. (0392.HK) has agreed to buy a stake in a provider of natural-gas terminal facilities and cargo handling services for 965.97 million yuan (US$145.2 million).

The Beijing based company controlled by state-owned Beijing Enterprises Group Co. said Monday that it has agreed to buy a 29% stake in PetroChina Jingtang LNG Co. from its parent company.

The deal comes after blue-chip Kunlun Energy Co. (0135.HK) last week agreed to pay CNY1.55 billion to buy a 51% stake in PetroChina Jingtang from its parent PetroChina Co. (0857.HK).

PetroChina Jingtang operates liquefied natural gas terminals and provides storage and regasification services and other warehousing facilities. Hebei Natural Gas Co. owns the remaining 20% stake in PetroChina Jingtang.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

October 02, 2017 20:20 ET (00:20 GMT)