China Aviation Oil (Singapore) Controlling Shareholder to Proceed With Restructuring

MT Newswires

01/09

China Aviation Oil (Singapore) (SGX:G92) controlling shareholder, China National Aviation Fuel, was granted an approval to proceed with its corporate restructuring, according to a Thursday filing with the Singapore Exchange.

Shares of the purchaser of jet fuel were up nearly 2% in Friday trading.

The controlling shareholder had earlier applied for a restructuring exercise to the Chinese State-owned Assets Supervision and Administration Commission of the State Council and the State Council.

However, the restructuring is subject to further approvals and filing procedures, the filing added.

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