SK E&S HongKong Corporation Limited entered into an agreement to acquire 30% stake in Zhejiang Bo Xin Energy Limited from Beijing Gas Blue Sky Holdings Limited (SEHK:6828) for CNY 61.5 million on July 3, 2020. The consideration is payable in cash within ten days from closing. In related transactions, SK E&S HongKong Corporation Limited also signed agreements to acquire Ningbo Beilun Bochen Energy Trading Co., Ltd. and Huzhou Bochen Natural Gas Co., Ltd. from Beijing Gas Blue Sky Holdings Limited. Additionally, Beijing Gas Blue Sky Holdings entered into the LNG agreement with Prism Energy International China Zhoushan Limited and certain joint venture agreements on July 3, 2020. Post completion, Beijing Gas Blue Sky Holdings Limited will own 70% in Zhejiang Bo Xin Energy Limited. If any of the conditions are not fulfilled within a year the agreement will be terminated. For the year ended December 31, 2019, Zhejiang Bo Xin Energy Limited reported net profit of CNY 16.2 million and as on December 31, 2019, it reported net assets of CNY 225.5 million. The deal is subject to approval from Board of Directors of SK E&S HongKong Corporation Limited, Zhejiang Bo Xin Energy Limited and Beijing Gas Blue Sky Holdings Limited, all required approvals and permissions (as applicable) in accordance with the Listing Rules and other applicable Hong Kong and Bermuda laws and regulations, all transaction documents including the Joint Venture Agreement being executed and engaging the Vice Chief Financial Officer and Deputy General Manager recommended by SK E&S HongKong Corporation Limited in Zhejiang Bo Xin Energy Limited. The transaction is expected to close the day on which all conditions precedent to the agreement are satisfied. The net proceeds will be used in expansion of working capital and LNG trading volume, increase capital investment in the LNG business and repaying debts. SK E&S HongKong Corporation Limited cancelled the acquisition of 30% stake in Zhejiang Bo Xin Energy Limited from Beijing Gas Blue Sky Holdings Limited (SEHK:6828) on November 16, 2021.