CNOOC to buy Canada's Nexen for US$15.1b
(07-23 18:31)
China's top offshore oil producer CNOOC Ltd (0883) has entered into an agreement to purchase Canada's Nexen Inc for about $15.1 billion, the Chinese company said today.
"The aggregate value of the consideration of the proposed acquisition is approximately US$15.1 billion (approximately HK$117.2 billion), and is to be payable in cash," CNOOC said in a statement filed on the Hong Kong stock exchange.
"The current indebtedness of Nexen of approximately $4.3 billion (approximately HK$33.6 billion) will remain outstanding. The company intends to fund the proposed acquisition through existing cash resources and external financing."
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