Wilmar sells off 15% interest in Fortune Gas Investment Holdings

Cash consideration is worth US$60m.

According to a release, Wilmar International announced that it has conditionally agreed to sell all of its 15% interest in Fortune Gas Investment Holdings Limited to China Natural Gas Investment Limited, a wholly-owned subsidiary of China Gas Holdings Limited, a company listed on the Hong Kong Stock Exchange, for an aggregate consideration of USD60 million.

This is subject to the terms and conditions of the Share Purchase Agreement relating to the sale and purchase of FGIH, entered into on 16th December 2012 between Fortune Oil PRC Holdings Limited and Wilmar International Limited as Sellers, China Natural Gas Investment Limited as Purchaser, Fortune Oil PLC.

Fortune Oil is a company listed on the London Stock Exchange, as Guarantor of Fortune Oil PRC Holdings Limited's obligations under the Agreement and China Gas as Guarantor of China Natural Gas Investment Limited's obligations under the Agreement. A summary of the Proposed Disposal and key terms of the Agreement are set out in the attached announcements by Fortune Oil and China Gas.

Wilmar purchased its 15% interest in FGIH in 2008 for USD36 million consideration.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia