Wanhua Chemical¡äs Subsidiary Secured Strategic Investment from Kuwaiti Petrochemical Firm
2025-9-23
Recently, Wanhua Chemical Group Co., Ltd. issued an announcement stating that Kuwait Petroleum Corporation (KPC) has injected USD 638 million into its subsidiary, Wanhua Chemical (Yantai) Petrochemical Co., Ltd., thereby acquiring a 25% equity stake in the latter.
According to the announcement, Kuwait Petroleum Corporation completed the payment on August 28, and the relevant industrial and commercial registration changes were finalized on September 3. After this adjustment, the registered capital of Wanhua Petrochemical increased from RMB 2.979 billion to RMB 3.972 billion. In terms of equity ownership, Wanhua Chemical holds a 75% stake with a subscribed capital contribution of RMB 2.979 billion, while Kuwait Petroleum Corporation holds a 25% stake with a subscribed capital contribution of RMB 993 million. Along with the adjustment of the equity structure, the senior management personnel of Wanhua Petrochemical were also changed simultaneously.
Wanhua Chemical stated that this cooperation aims to enhance the security of raw material supply for the company¡äs petrochemical business, diversify the operational risks of the petrochemical business, accelerate the company¡äs internationalization process, support China¡äs "Belt and Road" Initiative, and facilitate Kuwait Petroleum Corporation¡äs "oil-to-chemicals" transformation.
According to the announcement, Kuwait Petroleum Corporation completed the payment on August 28, and the relevant industrial and commercial registration changes were finalized on September 3. After this adjustment, the registered capital of Wanhua Petrochemical increased from RMB 2.979 billion to RMB 3.972 billion. In terms of equity ownership, Wanhua Chemical holds a 75% stake with a subscribed capital contribution of RMB 2.979 billion, while Kuwait Petroleum Corporation holds a 25% stake with a subscribed capital contribution of RMB 993 million. Along with the adjustment of the equity structure, the senior management personnel of Wanhua Petrochemical were also changed simultaneously.
Wanhua Chemical stated that this cooperation aims to enhance the security of raw material supply for the company¡äs petrochemical business, diversify the operational risks of the petrochemical business, accelerate the company¡äs internationalization process, support China¡äs "Belt and Road" Initiative, and facilitate Kuwait Petroleum Corporation¡äs "oil-to-chemicals" transformation.