RoK firms to buy stake in PetroVietnam subsidiaries
The Vietnam National Oil and Gas Group (PetroVietnam) has signed deals to sell its stake in real estate and securities companies to the Republic of Korea (RoK) partners.
The Vietnam National Oil and Gas Group (PetroVietnam) has signed dealsto sell its stake in real estate and securities companies to theRepublic of Korea (RoK) partners.
Under the agreements, which came at an ongoing conference on tradepromotion in the RoK, Hanshin Group will purchase a 10 percent stake ofPetroVietnam in PetroVietnam Construction Joint Stock Corporation (PVX)and Shinhan Investment Group will buy a 15 percent stake in PetroVietnamSecurities Incorporation (PSI).
PetroVietnamDeputy Director General Nguyen Tien Dung said this was part of thegroup’s plan mapped out for the next five years, during which it wouldfocus on only four key areas: oil exploration and exploitation both athome and abroad, petrochemistry, thermo-electricity and other cleanenergies, and technical services in the oil industry.
The group would keep its 100 percent stake in PetroVietnam ExplorationProduction Corporation to ensure the target was met, he said./.
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