Sinopec International Completes the Acquisition of Canada's Tanganyika Oil Company

摘要

Tanganyika Oil Company Ltd. of Canada and Sinopec International Petroleum Exploration and Production Corporation (Sinopec International) of China have announced that an affiliate of Sinopec International, Mirror Lake Oil and Gas Company Limited, has purchased 60.57 million ordinary Tanganyika shares since launching its takeover bid for the Canadian company on 30 October. Since all the conditions of the share offering were fulfilled, Mirror Lake agreed to purchase these shares, which represent nearly 95% of Tanganyika Oil Company's capital. The Chinese company intends to exercise its rights under the terms of the Canada Business Corporation Act to purchase all outstanding Tanganyika shares as quickly as possible. Following the completion of this acquisition, the board of directors of Tanganyika Oil Company was replaced by members designated by Sinopec International with effect from 19 December.