China Bio Energy ventures into fuel retail business

China Bio Energy Holding Co., Ltd. has entered into an agreement to acquire all of the assets of a gas station located in the city of Xi’an, Shaanxi Province, China. The transaction is valued at US$8.5 million. China Bio Energy Holding is a China-based distributor of refined oil products, including gasoline, diesel fuel, and heavy oil, and a manufacturer and distributor of biodiesel. (August 19, 2009)