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ENN plans to sell a 40% stake in the 900,000 tons/year coal-to-methanol project

 Last Update: 2021-11-19
 Source: Internet
 Author: User

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On February 19 , ENN issued an announcement regarding the signing of an equity transfer framework agreement and related party transactions for the equity sale of Tengzhou Company.

In order to further focus on the main business of natural gas, the company intends to sell the entire shareholding of the shareholding company Xinneng Phoenix (Tengzhou) Energy Co.

It is reported that Shandong Xinneng Phoenix uses coal as raw material and has two production lines to produce 900,000 tons of methanol.

On February 18 , the company and other shareholders of Tengzhou Company signed the "Engagement Transfer of Xinneng Phoenix (Tengzhou) Energy Co.
, Ltd.
" by ENN Natural Gas Co.
, Ltd.
, Langfang Huayuan Energy Technology Co.
, Ltd.
and Levima New Material Technology Co.
, Ltd.
"Framework Agreement", the company intends to sell 40% of the shares held by Tengzhou Company to Levima New Material Technology Co.
, Ltd.
The transaction price is negotiated and determined based on the target company’s evaluation report, and the formal equity transfer agreement shall prevail.

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