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2005-4-5 08:31:00 a.m. HKT, XFNA
China's Sinolink Worldwide to consolidate holdings in two units - report
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BEIJING (XFN-ASIA) - Sinolink Worldwide Holdings Ltd plans to consolidate
its holdings in two majority-owned units, piped-gas distributor Panva Gas
Holdings Ltd and electricity generator Enerchina Holdings Ltd, Hong
Kong-based The Standard reported, citing unidentified sources.
Trading in all three companies was suspended yesterday pending an
announcement related to an acquisition and other transactions.
The newspaper said that while the two units have little in common except
for their shared parent, that could change if Enerchina proceeds with plans
to move into coal mining, and, in time, coal gasification.
Panva is aggressively expanding its gas distribution business in the
mainland and needs to line up gas supplies. And while China has abundant coal
reserves, it has little prospect of becoming self-sufficient in natural gas.
bjburo@xinhuafinance.com
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