Three firms vie for BP’s China petrochemicals JV in a deal valued at over $2b

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SK Chemicals Co Ltd, a pharmaceutical unit of South Korea’s SK Group; Austrian plastics group Borealis , owned by Abu Dhabi’s sovereign wealth fund IPIC and oil and gas company OMV ; and privately-owned Switzerland-based chemicals company Ineos are set to bid for the asset.

China to support debt-to-equity transfers for steel, coal firms

China will support asset management companies converting debt into equity stakes for steel and coal firms, and provide credit support to competitive companies with overcapacity issues, the country’s top banking regulator said. Debt has emerged as one of China‘s biggest challenges, with the total load rising to 250 percent of… Read more »


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