Doug Nidiffer, chairman of the board for C&K Market Inc., holds a ribbon outside the newly remodeled Chetco Pharmacy and Gifts on Chetco Avenue Saturday as Brookings City Council Ron Hedenskog and City Manager Gary Milliman, right, look on. C&K Market purchased the store last year. Submitted photo
HONG KONG/BEIJING (Reuters) - Canadian retailer Alimentation Couche-Tard Inc and China's Tencent Holdings Ltd are among suitors short-listed to buy a $16 billion minority stake in China's Sinopec Sales, the world's largest fuel retail network, people familiar with the matter told Reuters. China Life Insurance Co Ltd, the nation's biggest insurer, Hong Kong-listed ENN Energy Holdings Ltd, privately-owned Fosun Group, Hopu Investment Management and Affinity Equity Partners have also progressed to the next round, said the people who declined to be identified as the sale process is confidential.
Asian stocks were steady on Wednesday after strong U.S. Spreadbetters expected a slightly lower open for Europe ahead of the Federal Reserve meeting minutes release later in the day. Tokyo's Nikkei inched up 0.1 percent. Wall Street drew support from robust housing data on Tuesday, which pushed up Treasury yields and drove the dollar to a nine-month high against the euro.
President Cristina Fernandez on Tuesday unveiled legislation that seeks to push bondholders to swap defaulted debt for new notes governed by Argentine law, a move aimed at skirting a U.S. Argentina slid into default last month after a New York court blocked an interest payment of $539 million owed to holders of debt issued under U.S. The judge said Argentina could not proceed with that payment until it had also settled on repayment terms with a group of hedge funds that had rejected the restructuring deal and are demanding full payment. Fernandez has argued Argentina is not in default and has consistently labeled the adverse U.S.