China Gas Puts Up $400M For Fortune Oil's Gas Biz

Law360, New York (December 17, 2012, 4:05 PM EST) -- China Gas Holdings Ltd. will pay $400 million for the natural gas business of Fortune Oil PLC, one of its major investors and a key player in helping it swat away a $2.2 billion takeover attempt this fall, the buyer said in a Monday filing.

The Chinese natural gas giant will pay $200 million in cash up front and pony up the other half as a deferred consideration, which Fortune Oil said it had opted to receive in the form of China Gas shares. Fortune Oil will...
To view the full article, register now.