Canadian court approves CNOOC’s acquisition plan of Nexen

21 September 2012 04:56  [Source: ICIS news]

SINGAPORE (ICIS)--China National Offshore Oil Corp (CNOOC) said on Friday a Canadian court has approved its $15.1bn (€11.6bn) acquisition plan to buy Calgary-headquartered energy firm Nexen Inc.

The acquisition plan was also approved by Nexen shareholders on the same day, CNOOC said in a statement.

The Chinese major in July this year entered into a final agreement to acquire all interests of Nexen and expected the deal to be closed in the fourth quarter of this year.

The deal is subject to approvals from regulators in China, the US and Canada.

By: Fanny Zhang
+65 6780 4359

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