China Oil and Gas Group Limited provided an update regarding its proposed acquisition agreement. Under the latest arrangement, Shengli Share will acquire 100% equity interests in China Oil Zhuhai and Tiandashengtong, 51% equity interests in Nantong Oil, and 40% equity interests in another target company. The transaction will be completed through a combination of share issuance and cash payment. The agreement specifies that the completion of the deal remains subject to several conditions, including obtaining necessary regulatory approvals and fulfilling required authorizations and filings. Negotiations on the transaction consideration are still ongoing.
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