Top 10 overseas M&As by Chinese companies
Updated: 2014-06-20 07:55
By Sun Chengdong (chinadaily.com.cn)
No 5: China Petrochemical Corp acquired 33 percent oil and gas business of Apache Corp
Sinopec International Petroleum Exploration & Production Corp, unit of Chinese State-owned China Petrochemical Corp, acquired a 33 percent stake in the Egypt oil and gas business of Apache Corp, for $2.95 billion. Apache Corporation is an American independent oil and gas corporation. It is headquartered in Houston, Texas.
Acquirer: China Petrochemical Corp
Target: Oil and gas business of Apache Corp
Value: $2.95 billion
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A China Shipping Line container ship crosses the Suez canal near Ismailia port city, northeast of Cairo May 1, 2014. Egypt has extended the bidding deadline to July 3 in an international auction of 22 concessions for oil and gas exploration. [Photo/IC] |
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