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Leading global law firm Herbert Smith Freehills has advised Sinopec (00386. HK) on disposal of pipeline assets to China's new oil and gas pipeline company PipeChina.

On 30 September, PipeChina held a signing ceremony to take over pipeline assets operated by the nation’s three state oil and gas companies PetroChina, Sinopec and CNOOC, effective 1 October.

As part of PipeChina reorganisation, Sinopec and its subsidiaries dispose RMB122.655 billion assets for the subscription of RMB70 billion of RMB500 billion registered capital of PipeChina and in exchange for RMB52.655 billion cash consideration. Sinopec Corp. (00386. HK), Sinopec Natural Gas, Sinopec Marketing and Sinopec Kantons (00934. HK) are sellers. Sinopec and its subsidiaries hold an aggregate 14% shareholding interest in PipeChina upon its reorganisation.

"We are gratified to see our long-term client continue to march forward and delighted to have advised them on another milestone transaction,” said Tom Chau, Herbert Smith Freehills' Head of Beijing. “I would like to extend my gratitude to Sinopec for their recognition and giving us the opportunity to support.”

“Our hands-on experience and legal expertise in advising SOEs on equity capital market matter enable us to navigate clients through multiple challenges in complex transactions,” said Tom.

Partner Tom led the team advising Sinopec on Hong Kong law aspect in this transaction, assisted by senior associate Shell Chen and paralegal Shaw Gong in Beijing.

全球领先的律师事务所史密夫斐尔为中国石化 (00386.HK) 向国家管网集团出售油气管网资产提供法律服务。


重组后的国家管网集团注册资本将为人民币5,000亿元。作为重组的一部分,中国石化及其附属公司向国家管网出售价值为人民币1,226.55亿元的资产,以认购国家管网集团人民币700亿元注册资本及支付的人民币526.55亿元的现金对价。中国石化出售的管网资产涉及中国石油化工股份有限公司 (00386.HK)、中国石化天然气有限责任公司、中国石化销售股份有限公司及经贸冠德发展有限公司 (00934.HK)。重组完成后,中国石化及其子公司合计占国家管网集团注册资本的14%。



合伙人邹兆麟率领律师团队在此次交易中就香港法方面为中国石化提供法律服务,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