當前位置

首頁 > 英語閱讀 > 雙語新聞 > 合久必分 中石化出售零售業務部門股份

合久必分 中石化出售零售業務部門股份

推薦人: 來源: 閱讀: 2.65W 次

Chinese oil champion Sinopec is selling a $17.4bn stake in its retail unit to a large group of mostly domestic investors as the country tries to Reform its sprawling state-owned enterprises.

中國石油行業冠軍企業中石化(Sinopec)將向以國內買家爲主的一大羣投資者出售其零售部門的174億美元股份。目前中國正試圖改革其龐大的國有企業。

The 29.99 per cent stake sale – to investors including tech group Tencent, private conglomerate Fosun and China Life Insurance – was considered a precedent-setting deal in China’s efforts to realise value in its SOEs .

在中國實現其國有企業價值的努力中,此次29.99%股權出售被視爲一筆開創先例的交易;投資者包括科技集團騰訊(Tencent)、民營企業集團復星(Fosun)和中國人壽(China Life Insurance)。

padding-bottom: 66.5%;">合久必分 中石化出售零售業務部門股份

But the deal, announced yesterday, is far from the opening of the oil sector to outside forces that reformers had sought. Sinopec has ceded no control of its lucrative business while raising funds from a sprawling club of state-owned enterprises, leading private groups, pension funds and other domestic investors.

但是,昨日宣佈的這筆交易遠遠不是改革派此前尋求的開放石油行業舉措。中石化在保留對其利潤豐厚的業務的控制的同時,還從一個龐大的俱樂部(成員包括國有企業、領先民營集團、養老基金等國內投資者)籌集到了資金。

The list of investors includes Haier, a white goods maker; Hopu, a private equity group; Bank of China and ICBC, the giant state-owned banks; CICC, an investment bank; and Cinda Asset Management, the state-controlled “bad bank” asset manager.

投資者包括白色家電製造商海爾(Haier);私人股本集團厚朴基金(Hopu);大型國有銀行中國銀行(Bank of China)和中國工商銀行(ICBC);投資銀行中金公司(CICC);以及國有控股的“壞銀行”信達資產管理公司(Cinda Asset Management)。

RRJ, a fund owned by Malaysian dealmaker Richard Ong, stands out as the only non-Chinese direct investor.

馬來西亞交易撮合者王忠信(Richard Ong)旗下的RRJ基金,令人矚目地作爲唯一的境外投資者躋身於投資者名單。

About two years ago China said outside capital would be allowed to invest in strategic state sectors – an announcement welcomed by some as opening the door to more private investment in closely held industries.

大約兩年前,中國表示外部資本將獲准投資於國有戰略行業;一些人歡迎這份聲明,視其爲打開封閉型行業的大門、接受民間投資之舉。

Sinopec has billed this sale as a prime example of that reform. In August it said it was in discussions with 37 bidders for the stake in the business, which operates 30,000 petrol stations and holds 60 per cent of the domestic market for oil products. It also owns 23,000 convenience stores under the Easy Joy brand.

中石化將此次股份出售譽爲此類改革的一個範例。該集團在8月表示,正與37家投標人討論出售股份事宜。中石化零售部門經營3萬個加油站,在國內成品油市場佔據60%的份額,它還擁有2.3萬家易捷(Easy Joy)便利店。

Stake sizes range from 2.8 per cent of the total group to a 0.1 per cent holding. The price values the unit’s equity at about $59bn. Last year the business produced Rmb25.1bn ($4.1bn) in profit from operating income of Rmb1.5tn.

這些投資者買下的股份佔中石化銷售公司的0.1%至2.8%不等。交易價格意味着該業務部門的權益約爲590億美元。去年,該業務部門的營業利潤達到1.5萬億元人民幣,利潤達到251億元人民幣(合41億美元)利潤。

In June Fu Chengyu, Sinopec chairman, said successful bidders would be determined by factors including offer price, domicile, complementary strengths, standing and reputation, and level of conflicts of interest with Sinopec.

中石化董事長傅成玉今年6月表示,有一系列因素決定投標成功與否,包括出價、註冊地、互補優勢、地位和聲譽,以及與中石化之間的利益衝突水平。

The company is one of China’s three dominant state-owned oil groups. Reformers have argued that their stranglehold on the oil sector raises costs for consumers, crowds out potentially more competitive groups, and allows them to hijack policy to support their interests.

中石化是中國三大國有石油集團之一。主張改革的人士認爲,這些集團霸佔石油部門,提高了消費者的成本,排擠了潛在更具競爭力的企業,並且讓它們出於自身利益綁架政策。