LONDON: Chemchina has agreed to buy a stake in Swiss energy trader Mercuria, the companies said on Monday, cementing its role as one of China's most acquisitive firms as its expands in new areas and as Beijing opens its oil markets for more imports.
The deal to sell 12 percent of its business will allow Mercuria to foster ties with the world's second-largest oil market a year after completing a deal to integrate the trading desk of Wall Street bank JP Morgan to strengthen its position in the United States.
Copyright Reuters, 2016