中石油出售110億美元金融資產

China National Petroleum Corp (CNPC), the country’s largest state energy group, will sell $11 billion worth of financial assets to a listed unit as part of the state giant’s reform plan to restructure its non-core businesses.

Under Beijing’s broad reform agenda to make its state-owned enterprises more efficient and competitive, CNPC has said it will restructure non-core departments, such as oilfield services, engineering and financial operations, and list them on stock exchanges.

Jinan Diesel Engine, a unit under CNPC, said late on Monday that it plans to buy certain financial assets in CNPC for 75.5 billion yuan ($11.3 billion) via cash, asset swaps and a share issue.

The unit, listed on the Shenzhen exchange, said it aims to raise up to 19 billion yuan in a private placement of shares to fund the acquisition.The assets CNPC is selling to the listed unit include the state group’s holdings in CNPC Finance, Bank of Kunlun, Kunlun Financial Leasing, Bank of China International and others, according to a filing by Jinan Diesel Engine.