SK E&S JV buys 50 pct stake in China's Taizhou Gas

South Korean city gas provider SK E&S said on Thursday its Chinese joint venture has signed a deal to buy a 50 percent stake in Chinese local city gas distributor Taizhou Gas for 8.6 billion won ($9.15 million).

The stake purchase would be made by China Gas-SK Energy Holdings, a joint venture established in March between SK E&S and China Gas Holdings (0384.HK: Quote, Profile , Research), a local piped-gas supplier.

SK E&S is one of the seven subsidiaries of SK Holdings (003600.KS: Quote, Profile , Research), which includes SK Energy (096770.KS: Quote, Profile , Research) in charge of the group's refinery and petrochemical business.