HK-listed New Smart Energy buys coalbed methane pipeline assets for 250 mln
New Smart Energy Group Ltd said it will buy coalbed methane (CBM) gas pipeline assets in the mainland for 250 mln yuan.
It will acquire 100 pct of Sanxia International Energy Investments Ltd for 133.9 mln yuan and 100 pct of China Sea Gas (BVI) Investment Ltd for 116. 1 mln yuan.
New Smart said the two companies have a combined 56 pct interest in Shanxi Tongyu Coalbed Methane Transportation Ltd, which was authorized by the mainland government to build and operate a CBM gas pipeline from Shanxi province to Henan province.
New Smart Energy Group Ltd said it will buy coalbed methane (CBM) gas pipeline assets in the mainland for 250 mln yuan.
It will acquire 100 pct of Sanxia International Energy Investments Ltd for 133.9 mln yuan and 100 pct of China Sea Gas (BVI) Investment Ltd for 116. 1 mln yuan.
New Smart said the two companies have a combined 56 pct interest in Shanxi Tongyu Coalbed Methane Transportation Ltd, which was authorized by the mainland government to build and operate a CBM gas pipeline from Shanxi province to Henan province.
