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Baker & McKenzie advises China Gas on buy into Beijing Gas
Baker & McKenzie recently advised China Gas Holdings, China's leading piped-gas operator and listed on Hong Kong bourse, on its proposed acquisition of the entire issued share capital of Beijing Gas Development
The Asset 2 Dec 2014

Baker & McKenzie recently advised China Gas Holdings, China's leading piped-gas operator and listed on Hong Kong bourse, on its proposed acquisition of the entire issued share capital of Beijing Gas Development, a wholly-owned subsidiary of Beijing Gas Group under Beijing Enterprises Holdings for about HK$2.063 billion. The consideration is to be satisfied by China Gas allotting and issuing new shares to Beijing Enterprises upon completion of the acquisition.

 

The Baker & McKenzie team is led by corporate partner Christina Lee and special counsel Taotao Ling.

 

Beijing Gas is engaged in the distribution of city gas and operation of CNG gas stations for vehicles in addition to the construction of long-distance natural gas pipelines in China. It currently has 21 gas projects in operation which are located in 9 regions covering Northern China (Liaoning, Hebei and Helongjiang), Northeastern China, Shandong and Anhui provinces, and three CNG and one LNG refilling stations as well as a long-distance natural gas pipeline in Shandong province.

 

China Gas is engaged in the investment, construction and management of city gas pipeline infrastructure, distribution of natural gas and LPG to residential, industrial, commercial users, and through gas stations to the transportation sector. Major shareholders of China Gas include the Beijing Enterprises Group (BVI) Company, SK Group of companies, Fortune Oil PLC in UK, and Gail (India).

 

As of November 2014, China Gas owns a total of 259 natural gas projects, including exclusive piped gas development rights in 243 cities and regions, 13 natural gas pipeline transmission projects, one natural gas exploration project and two coal bed methane development projects, as well as the license to import and export LNG and other fuel products in China, and 98 LPG distribution projects.

 

 

 

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