Sinopec Oilfield Service’s $32.7 Million Acquisition of FTS International Interest in SinoFTS Petroleum Services

Winston & Strawn represented FTS International in the transaction.

FTS International, Inc. closed the sale of interest in Chinese joint venture, SinoFTS, for total cash proceeds of $32.7 million to Sinopec Oilfield Service Corporation.

FTS International formed SinoFTS in 2014 as a joint venture with Sinopec to provide well-completion services to exploration and production companies in China.

Headquartered in Fort Worth, Texas, FTS International is one of the largest providers of hydraulic fracturing services in North America.

The Winston team was led by Charlie Haag (Dallas; Picture) and included Yang Wang (Dallas).

Involved fees earner: Charles Haag – Winston & Strawn; Yang Wang – Winston & Strawn;

Law Firms: Winston & Strawn;

Clients: FTS International, Inc.;

Author: Ambrogio Visconti