April 14, 2018 / 1:57 PM / a year ago

Mercuria agrees to take stake in ChemChina's oil refining system - sources

LONDON, April 14 (Reuters) - Global energy trader Mercuria Group agreed to take an interest in the oil refining system of China’s ChemChina, sources familiar with the matter said.

As part of the deal, ChemChina would increase its stake in Mercuria. ChemChina already holds a 12 percent stake in the trading firm and would remain a minority shareholder.

The deal, once signed, would be the first time that a foreign company had gained a stake in Chinese refineries. (Reporting by Aizhu Chen in Beijing and Julia Payne in London; Editing by Toby Chopra)

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