China's Sinopec to buy Addax Petroleum for $8.4B (Dealscape

China's Sinopec Group agreed Wednesday to buy Addax Petroleum Corp. for about C$9.7 billion ($8.4 billion) to gain access to the Canadian target's oil fields in West Africa and Iraq.

Calgary, Alberta-based Addax, which the U.K.'s Addax and Oryx Group Ltd. established in 1994, said in a statement that Sinopec International Petroleum Exploration and Production Corp. is offering C$52.80 for the oil explorer.

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NOT A SUBSCRIBER? China's Sinopec to buy Addax Petroleum for $8.4B Posted on June 24, 2009 3:14 PM China's Sinopec Group agreed Wednesday to buy Addax Petroleum Corp. for about C$9.7 billion ($8.4 billion) to gain access to the Canadian target's oil fields in West Africa and Iraq. Calgary, Alberta-based Addax, which the U.K.'s Addax and Oryx Group Ltd. established in 1994, said in a statement that Sinopec International Petroleum Exploration and Production Corp. is offering C$52.80 for the oil explorer. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 800 in-depth reports of M&A deals in the Energy sector 271 company pages related to Canada 38 articles related to Sinopec Group 20 articles related to Addax Petroleum Corp. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps IMS Cadbury Antitrust Hyatt Corp. Evercore Scripps CIT Agrium Inc.		EXISTING USERS Username Password Forget your password? Missing a product?

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