Shanghai Petrochem joint venture with BP in 22.45 Bln Yuan; trade resumes

Shanghai Petrochemical Co. (0338) said its share trading resumes today after it signed a 22.45 billion yuan petrochemical joint venture with its parent China Petroleum & Chemical Corp. (0386) and independent investor BP Chemicals East China Investments Ltd. on Aug. 31. The joint venture agreement fall into a discloseable and connected transaction, which requires shareholders' approval, it said.

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