Panva Gas makes Jilin acquisition

Panva Gas Holdings acquired a 50% stake in a Jilin province gas project for US$47.5 million. Hong Kong-based Panva acquired the holding from two sources, including a 48% stake in Changchun Gas Holdings from the Changchun state asset authority for US$45.6 million and a 2% stake from Shenzhen Hua Fu Investment for US$1.9 million. Changchun Gas Holdings has a 60% share in Changchun Gas Co. Both of the Jilin province firms are involved in gas pipeline construction and supply of coal gas, natural gas and liquefied petroleum gas.