ENN, Sinopec's $2.2B China Gas Bid Gets Shareholder Nod

Law360, New York (July 06, 2012, 3:52 PM ET) -- Facing pressure from a challenger, fuel supplier ENN Energy Holdings Ltd. has received shareholder approval to move forward with a $2.2 billion joint bid with China Petroleum & Chemical Corp. to take over natural gas giant China Gas Holdings Ltd., the partners announced Friday.

More than 86 percent of the ENN's voting shareholders cleared the company to pay up to HK$9.2 billion (US$1.2 billion) in cash for China Gas, which boasts the biggest portfolio of natural gas projects in mainland China, according to a statement ENN...
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