China CBM to sell Stake in Henan Yulong Energy

China Coal Bed Methane (China CBM) is expected to sell its 40% stake in Henan Yulong Energy to its joint venture partner, Henan Coal Seam Gas Development and Utilization.

The details of the transaction have yet to be fixed, the company said in a statement.

Henan CSG currently holds a 60% interest in Henan Yulong Energy.

Henan Yulong Energy is engaged in coal resources integration and in CSG utilization.