Chinese oil giant CNOOC purchases Canada's Nexen for US$15.1 billion

Canada gave the green light in December, as did the United States, which had to approve the deal because of Nexen's activities in the Gulf of Mexico.

Nexen confirmed the completion of the acquisition in a statement, noting that its shareholders had received US$27.50 per share, a gain of US$10 compared to the day before the announcement of the transaction in July.

In a separate statement, the head of state-run CNOOC Wang Yilin said “we strongly believe that this acquisition is a good strategic fit for us and will create long-term value for our shareholders.”

The CNOOC deal is China's largest foreign investment and its largest energy deal, according to data firm Dealogic.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Chesapeake Energy in land deal with China's Sinopec for US$1.02 billion

NEXT ARTICLE
US embraces Myanmar 'crony'

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit