(EnergyAsia, August 24, Monday) —Sinopec International Petroleum Exploration and Production Corp, a subsidiary of state Sinopec, said it has agreed to pay $7.5 billion to acquire Canada-listed Addax Petroleum, making this the largest foreign takeover by a Chinese company. Sinopec easily beat out competing bids from South Korea which was also eyeing Addax Petroleum’s sizeable…
CHINA: Sinopec makes record $7.5 billion acquisition of Addax Petroleum
Posted on August 23, 2009 by EnergyAsia