There were three “kings” in the Chesapeake Energy Arena on June 14, according to a Jefferies note:Fu Chengyu, Aubrey McClendon and LeBron James. Sinopec chairman Fu Chengyu, Chesapeake CEO Aubrey McClendon and Miami Heat forward LeBron James are in leagues of their own. It is no wonder fate brought about a convergence for one night in June. We believe Fu Chengyu will champion the “internationalization” of Sinopec, like Aubrey has championed shale fracking and LeBron James has championed… himself becoming champion.
Here’s a picture of Fu sitting courtside.
Sinopec is expected to pick up some of Chesapeake’s assets, continuing its three-year international shopping spree. Jefferies rated the stock a “buy.”