Related News
Sinopec said in talks to buy Addax
Source: Agencies |
June 10, 2009, Wednesday
|
Print Edition
Print Edition
CHINESE refiner Sinopec is in preliminary talks on acquiring Canadian oil and gas exploration company Addax Petroleum Corp, reports said yesterday.
The potential takeover bid is the latest effort by Chinese energy and resource companies to expand and diversify overseas assets.
Addax, whose shares are listed in Toronto and London, issued a statement noting speculation over a possible acquisition after its shares soared on Monday.
"Addax Petroleum acknowledges that it has held preliminary discussions with third parties expressing an interest in a potential transaction with the corporation," it said, without naming Sinopec or any other names.
It said there was no assurance the talks would succeed and that the firm would not issue any further comments unless a deal is reached.
China Business News, citing unnamed Sinopec sources, yesterday said the takeover would be worth about US$8 billion. However, reports of earlier acquisition overtures valued the firm at about US$3 billion.
The potential takeover bid is the latest effort by Chinese energy and resource companies to expand and diversify overseas assets.
Addax, whose shares are listed in Toronto and London, issued a statement noting speculation over a possible acquisition after its shares soared on Monday.
"Addax Petroleum acknowledges that it has held preliminary discussions with third parties expressing an interest in a potential transaction with the corporation," it said, without naming Sinopec or any other names.
It said there was no assurance the talks would succeed and that the firm would not issue any further comments unless a deal is reached.
China Business News, citing unnamed Sinopec sources, yesterday said the takeover would be worth about US$8 billion. However, reports of earlier acquisition overtures valued the firm at about US$3 billion.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
