Hengli Petrochemical subsidiary eyes nearly $2 bln restructuring – Reuters

Sept 11 (Reuters) – Chinese independent refiner and petrochemicals producer Hengli Petrochemical (600346.SS) has agreed to restructuring deals worth a total of up to $1.89 billion for its subsidiary Kanghui New Material Technology, filings showed on Monday. Under the restructuring, Kanghui will effectively become a separately listed company via transactions involving power and heating firm…