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BRIEF-BP says to dispose interest in SECCO to Sinopec for $1.68 bln

April 27 BP Plc:

* BP agrees sale of interest in SECCO to SINOPEC

* Consideration of sale of interest in SECCO to SINOPEC $1.68 billion

* SECCO is currently owned by BP (50%), SINOPEC (30%) and Sinopec Shanghai Petrochemical Company Limited (20%), in which Sinopec holds a majority interest

* Intends to use proceeds from disposal, most if not all of which are anticipated to be received in 2017, for general corporate purposes

* Tansaction is subject to a number of regulatory approvals and other conditions, subject to which, it is currently anticipated to complete before end of year Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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