According to Xinhua News Agency, China National Petroleum Corp. said an announcement on the 24th will be the acquisition of Keppel Corporation, Singapore's total share capital of the oil companies 45.51 percent, about 1.02 billion U.S. dollars deal.
Notice indicates that the transaction, respectively, through the Oil and Natural Gas Corporation and Singapore's Keppel Group, a subsidiary of the agreement reached by the international cause of China's oil company in Singapore. Cash transactions for a total price of about 1.47 billion Singapore dollars, and the completion of the transaction to pay the entire paragraph.
At present, the completion of this transaction to be approved by Chinese regulators. In addition to this transaction, the China National Petroleum Corporation and Keppel Group also agreed in principle that the future platform for offshore oil fields.
Stakeholders analysis, the acquisition will be the first cross-border acquisitions in the oil-listed company, since 2001, is also Singapore's largest listed company acquisition, so that oil in Singapore was a good strategic platform.
Singapore-based Keppel Group, Temasek Holdings, and the diversification of multinational corporations. Singapore Petroleum is a regional energy companies, while oil is the world's largest oil and gas companies, China National Petroleum Corporation is an international business in Singapore, a wholly-owned owned oil company's wholly-owned subsidiary of the core business of oil and other related products and investment in an oil storage site, facilities, major markets in Southeast Asia.
Source: windosi.com May. 25, 2009
