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Zhong Lun Advised SK Corporation (Korean)on Gas Stations and Oil Depots of Tianfa Petrochemical Co., Ltd. Transaction
Zhong Lun Advised SK Corporation (Korean)on Gas Stations and Oil Depots of Tianfa Petrochemical Co., Ltd. Transaction
At the end of 2007, SK Corporation (Korean) launched a tentative acquisition of 88 gas stations and 3 oil warehouses from five companies, including Tianfa Petrochemical Co., Ltd. and its affiliate, Hubei Tianfa Petrochemical Co. Ltd etc.
Upon the instructions from SK Corporation, Zhong Lun provided comprehensive legal services on the above-said acquisition by a team comprises Xu Yun-he, Wen Xiao-niu, Guo Ting-hui, Wang Na, Yang Guo-dong, Zheng Guo-zhe, Pu Xue-hui, Xin Lei and Sun Jin-lan. The services ranged from due diligent investigation over assets, legal consultation on acquisition of assets by foreign investors, to drafting of legal documents and business negotiations.
SK Group is the third largest multinational company in Korea, with businesses in energy & chemical industry and information communication as its two pillars of business. Two affiliated companies of SK Group are among the Fortune 500. By now, SK Corporation and its affiliated companies have over 30,000 employees, 130 offices and subsidiaries worldwide. In 2006, SK Group hit sales record of USD 75.8 billion. Since 1983, SK Group has been actively engaging itself in exploiting overseas oilfields and oil market worldwide. Since then, it has participated in exploiting 25 oilfield projects in 14 countries.