Consumer product giant could reap hefty gains from sell-off as it speeds up move to pull plug on oil, petroleum and ports
Consumer product giant China Resources Enterprise's move to pull out of the oil, petroleum and container terminal markets has gained momentum, with a deal to shed part of these assets expected in the next few months.
Negotiations were already in the final stages and the group could net a one-off gain of 'billions of dollars' from the sell-off, sources said.
The group aimed to boost its war chest with the proceeds in a bid to further expand into the retail and brewery sectors in Hong Kong and the mainland, brightening the prospect for a bonus dividend this year, some analysts said.
'There has been some breakthrough in the negotiations,' a source said yesterday.
A company spokeswoman declined to comment.