Swiss Energy Trader Mercuria Buys Back Stake From ChemChina

Swiss commodities trading giant Mercuria Energy Group bought back the minority stake that Chinese state-owned ChemChina held in the Geneva-based company since 2016, Mercuria confirmed with Caixin Wednesday.

ChemChina bought a 12% stake in Mercuria in 2016 for an undisclosed sum and two years later said it planned to increase its holding with Mercuria considering an investment in ChemChina at the same time. The two companies never disclosed the progress of those deals. ChemChina last year became part of Sinochem Holdings.