Hong Kong-Listed Firm Snaps Up Canadian Minnow

摘要

Chinese state firms are engaging in takeovers of Canadian oil and gas companies again, although on a much smaller scale than last year, when CNOOC made its largest-ever overseas investment by acquiring Nexen in a deal worth almost US$18 billion (OD Dec.10'12). That controversial deal, which was highly politicized and dominated headlines in Canada for months, also prompted Ottawa to change its foreign investment rules to discourage state-owned firms like CNOOC from snapping up large packages of oil sands assets in the future (OD Dec.14'12).