Asia/Pacific News
Shanghai Tonya Petrochemical Considering Acquisition of Bunkering, Shipping Companies
Shanghai Tonva Petrochemical Co., Ltd. has announced that its subsidiary, Tonva Trading (Hong Kong) Limited is currently considering an acquisition of a group of oil and shipping companies.
The company said that it was looking at "a group of companies whose operations are principally trading of refined oil products, maritime bunkering, vessel holding and vessel chartering."
The potential targets of the acquisition were not named, with Tonya having said that the tender submitted is non-binding and that there was a possibility that nothing would come of this initial announcement.
"The Company will publish further announcement(s) as and when appropriate to inform the shareholders and potential investors of the Company in respect of any material update," it said.
Another Hong Kong-based energy company also earlier this year expanded to focus on clean energy, including liquefied natural as (LNG).
