Not approved · Waiver · decided in 27 days, 24 Sept 2026
Sinopec (Hong Kong) Limited, a subsidiary of China Petrochemical Corporation, proposes to acquire 75% of the shares in Bintan Pty Limited and Australian Terminals Pty Limited, the holding companies of the Australian Park Fuels business. This transaction involves the fuel supply, wholesale, retail, and terminal operations sectors.
Sinopec (Hong Kong) Limited ( Sinopec ) proposes to acquire (directly or via a wholly owned subsidiary) 75% of the issued and outstanding shares of Bintan Pty Limited and Australian Terminals Pty Limited and their respective subsidiaries (which are collectively the holding companies of the Park Fuels business) (the Acquisition ). Sinopec is a subsidiary of the China Petrochemical Corporation ( Sinopec Group ), a Chinese, state-owned oil and gas enterprise. Sinopec Group's activities include oil and gas exploration and production, oil refining, petrochemicals and chemical products, and the import and export of crude oil, natural gas, refining oil products, and chemicals. In Australia, Sinopec Group (through its subsidiaries) is engaged in the wholesale and retail supply of fuel products in Victoria and Western Australia, as well as the supply of coal, petrochemical products, and equipment and materials produced by Sinopec Group. Park Fuels is an Australian fuel supply company headquartered in Albion Park Rail, New South Wales. Park Fuels imports fuel into Australia via its terminal operations at Kooragang Island and Port Kembla in New South Wales, and offers fuel terminal and storage services to third parties from these locations. Park Fuels is also engaged in the wholesale supply of fuel, primarily in New South Wales and Queensland, and operates fuel retail sites in various locations across New South Wales.