Sinopec Acquires the Addax Petroleum
Published:
2009-08-20
Sinopec Acquired the Addax Petroleum
China Petrochemical Corporation (Sinopec Group) announced on Tuesday it has bought Geneva-based Addax Petroleum Corp for 52.8 Canadian dollars per share, which adds up to more than 8.32 billion Canadian dollars (7.56 billion U.S. dollars). This is the largest overseas acquisition made by a Chinese company this year.
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