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Addax Petroleum

Country of Origin:

Sinopec completed a takeover of Geneva-based Addax Petroleum for $7.5 billion marking China's biggest foreign takeover.

http://www.addaxpetroleum.com/operations

Shareholders

Name

Role

Share

Operations

Asset Name

Asset Type

Stake

Role

OPL 227

Blocks

40.000%

OPL 291

Blocks

72.500%

OML 123

Blocks

100.000%

Owner

OML 124

Blocks

100.000%

Owner

OML 126

Blocks

100.000%

Owner

OML 137

Blocks

100.000%

Owner

OPL 225/A

Blocks

100.000%

Owner

JDZ Block 4

Blocks

45.500%

Owner

JDZ Block 1

Blocks

0.000%

Partner

JDZ Block 2

Blocks

14.330%

Updates

China's Sinopec to buy Addax for $7.24 Billion

24th June, 2009

hexgear

Sinopec Group launched China's biggest-ever foreign oil acquisition on Wednesday, agreeing to buy Addax Petroleum Corp AXC.TO for about C$8.27 billion ($7.24 billion) to secure the Swiss oil explorer's high-potential oil blocks in West Africa and Iraq.

The offer of C$52.80 a share from Sinopec International Petroleum Exploration and Production Corp -- coming after a behind-the-scenes bidding war with Korea National Oil Co -- is a 16 percent premium to Addax's closing share price on Tuesday and more than four times the stock's November low of C$12.13.

Source: http://www.reuters.com/article/2009/06/25/us-addax...

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