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PetroChina Invests RMB4.2 Billion in Kunlun Capital for Low-Carbon Plan

PetroChina logoPetroChina
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PetroChina agreed with CNPC, CNPC Capital and Kunlun Capital to fund a non-pro-rata capital increase in Kunlun Capital of RMB11.6 billion. CNPC will invest RMB7.395 billion and PetroChina RMB4.205 billion, raising their stakes to 56.56% and 32.16%. The funding, from PetroChina’s own resources, will support Kunlun Capital’s private equity and external equity activities to advance PetroChina’s low-carbon strategy. The board deems the connected deal fair and commercially reasonable; Kunlun Capital will not be consolidated.

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