# Sinopec sells 50% stake in Shanghai SECCO to INEOS

Sinopec agreed to sell 50% equity in Shanghai SECCO to INEOS Shanghai for a base consideration of CNY 10.522 billion. Sinopec also agreed to acquire 50% of Ningbo Benling from INEOS Styrolution APAC.

- Type: Acquisition
- Announced: 2022-07-28
- Where: Shanghai, China
- Value: $1.55B (10.5B CNY)
- Status: announced
- Products: ethylene, polyethylene, styrene
- 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 Shanghai](https://endata.com/companies/64408.md) (acquirer)
- [INEOS Styrolution APAC](https://endata.com/companies/64409.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/762906.html), 2022-07-28: "集团有条件同意出售，英力士上海有条件同意收购上海赛科共50%股权。"

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