# INEOS acquires 50% stake in SECCO from SINOPEC

INEOS agreed to acquire a 50% stake in Shanghai SECCO Petrochemical Company Limited from SINOPEC, a petrochemical company with 4.2 million tonnes capacity.

- Type: Acquisition
- Announced: 2022-07-28
- Where: Shanghai, China, China
- Value: $7.00B
- Status: announced
- Capacity: 4.2 million tonnes per year
- Products: ethylene, propylene, polyethylene, polypropylene, styrene, polystyrene, acrylonitrile, butadiene, benzene, toluene
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Sinopec](https://endata.com/companies/1143.md) (partner)
- [INEOS](https://endata.com/companies/9807.md) (acquirer)
- [China Petroleum & Chemical Corporation (Sinopec Group)](https://endata.com/companies/53632.md) (partner)
- [Shanghai SECCO Petrochemical Company Limited](https://endata.com/companies/64385.md) (target)

## Sources

- [ineos.com](https://www.ineos.com/news/ineos-and-sinopec-sign-three-significant-petrochemical-deals-with-an-aggregate-value-of-$7bn/), 2022-07-28: "INEOS and SINOPEC have today signed three back-to-back deals worth a combined value of $7bn."
- [ineos.com](https://www.ineos.com/ineos-quattro-investor-relations/news/ineos-and-sinopec-sign-three-significant-petrochemical-deals-with-an-aggregate-value-of-$7bn/), 2022-07-28: "These agreements significantly reshape INEOS’ petrochemical production and technology in China."
- [businesstimes.com.sg](https://www.businesstimes.com.sg/companies-markets/energy-commodities/sinopec-agrees-deals-ineos-sells-stake-shanghai-plant-105), 2022-07-28: "Sinopec announced a string of deals with UK-based chemical and energy group Ineos including the sale of a 50 per cent stake in Shanghai SECCO Petrochemical for 10.5 billion yuan"
- [soci.org](https://www.soci.org/news/2022/7/ineos-signs-deal-with-chinese-petroleum-and-chemical-corporation), 2022-08-01: "INEOS has taken a 50% stake in Shanghai SECCO Petrochemical Company Limited – an organisation that produces 4.2 million tonnes of petrochemical materials."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.