VOL. XL

No. 9

3-March-1997

UAE

Taiwan's CPC Acquires 40% Stake In Sharjah's Crescent Petroleum

Taiwan's Chinese Petroleum Corporation (CPC) has acquired a 40% minority equity stake worth $75mn in the Sharjah-based Crescent Petroleum Company International, under a deal announced in Taipei and Sharjah on 25 February. The announcement follows reports last month that Crescent was involved in talks with foreign companies on forging strategic alliances and possible sale of minority equity (MEES, 17...