China is planning to merge state-owned Sinochem Group and China National Chemical Corp, according to a person familiar with the matter.
The plan is still subject to change, the person said, asking not to be identified because the deal hasn't been publicly announced. Details, including timing, weren't immediately clear.
Calls to Sinochem's general office, which handles media affairs, weren't answered and an email inquiry to its news department wasn't immediately answered.
A representative at ChemChina said the company had no relevant information to release.
The state-owned Assets Supervision and Administration Commission, the government body in charge of state-owned assets, didn't respond to a request for comment.
Bloomberg