ChemChina acquires share in Mercuria
It recently acquired Pirelli and KrausMaffei, and China National Chemical Corporation has now purchased a stake in Mercuria Energy Trading, an integrated energy and commodities company with a (2014) turnover of US$106 billion. The Chinese chemical company has taken a 12 per cent share in the shareholding structure of Mercuria.
“Through the investment in Mercuria Energy Trading, which has grown rapidly over the last decade, ChemChina will expand further into the energy sector,” said ChemChina chairman Ren Jianxin. “Mercuria has growth opportunities ahead in China and around the world. We highly respect and trust its outstanding management team. We look forward to working with its management and employees.”