May 30 – Sinopec Kantons (0943.HK) is about to buy a 50-percent stake in Zhanjiang Petrochemical Port for 331.99 million yuan, reports the Wen Wei Po.

The target firm provides logistic services, including petroleum, storage, distribution, port and logistic services of the oil idustry. It has 12 berths for petrochemicals with annual volume of 25.29 million tons.

Zhanjiang Petrochemical Port had net assets of 961.67 million yuan and earned after-tax profit of 186.19 million yuan as of December 31 2010.