On June 14, 2004, Taishan Oil transferred the 75% stake it held in Taishan Real Estate to Capital Investment (Qingdao) for 123 million yuan, and the remaining 25% stake was transferred to NC International free of charge.
In March 2004, Chen Tonghai, then General Manager of Sinopec Group, convened a meeting of Taishan Petroleum executives to discuss the restructuring of Taishan Real Estate. Taishan Petroleum insiders claimed that the withdrawal was actually manipulated by Chen Tonghai.
Location: China ·
Importance IV ·
Verification: Reported ·
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