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Leading global law firm Herbert Smith Freehills has advised Sinopec Great Wall Gas Investment Co., Ltd on its HK$539 million acquisition of a 29.99% stake in LNG distributor Binhai Investment Company Limited.

Under the terms of agreement, Great Wall Gas subscribed for 178 million shares at a price of HK$1.33 from Hong Kong-listed Binhai Investment (02886.HK) and purchased 228 million shares at the same price from TEDA Hong Kong Property Company Limited, the controlling shareholder of Binhai Investment. Great Wall Gas now holds 29.99% equity as the second-largest shareholder in Binhai Investment.

"We are delighted to have advised Great Wall Gas on its largest investment in China's urban gas sector since its founding,” said Tom Chau, Herbert Smith Freehills' Head of Beijing. “This transaction adds to the success of our decade-long partnership with Sinopec and its subsidiaries.”

Great Wall Gas, a wholly-owned subsidiary of Sinopec Corporation, invests in natural gas terminal utilisation. The company has expanded the terminal gas market since its founding in 2017, through strategic cooperation agreements with China Resources Gas, Towngas China, Kunlun Energy, China Gas, ENN Energy and other energy companies.

"Our hands-on experience for over two-decades in capital market makes us a natural choice to help clients in these complex transactions,” said Tom.

Tom led the team, assisted by senior associate Shell Chen and paralegal Shaw Gong in Beijing.


根据协议条款,长城燃气向滨海投资以1.33港元的价格认购1.78亿股股份,并向滨海投资 (02886.HK) 的控股股东泰达香港地产有限公司以相同价格购买2.28亿股股份。长城燃气现持有29.99%股权,为滨海投资第二大股东。




合伙人邹兆麟率领律师团队为此次交易提供法律服务,主要团队成员包括北京办公室陈小小 (Senior Associate) 和巩韩潇 (Paralegal)。

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Sally Greig

Head of Communications, Asia

Hong Kong

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Vivian Huang

Communications Manager, China