CIMC Enric To Own 100% of SOE After Agreement Reached

upstreamonline.com

Via upstreamonline.com

Hong Kong-listed energy transport and storage service provider CIMC Enric has agreed to pay creditors close to 800 million yuan (US$118 million) to become 100% owner of module fabricator China’s Nantong Sinopacific Offshore & Engineering (SOE), writes Xu Yihe.

In a ruling last week, a court in Qidong in Jiangsu province, where SOE is located, endorsed SOE’s restructuring plan. In August 2015, CIMC Enric agreed to buy 63.31% % of SOE for 443.17 million yuan, but halted the acquisition

 

 

 

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