One-Page Deal Sheet
Sinopec Acquires Daylight Energy
Sinopec Daylight Energy Ltd.
Announced Date
October 09,2011
Close Date
December 23,2011
Transaction Type
Corporate
Enterprise Value (EV)($MM)
2200
Asset/Basin:
{"Deep Basin",Duvernay,Montney}
TargetZones:
{"Duvernay Shale",Mo
Transaction Details: Subscribe to see
Canadian oil and gas producer Daylight Energy said Sunday it will be acquired by China Petrochemical Corp. for 2.2 billion Canadian dollars ($2.12 billion).
It's the second takeover of a Canadian energy company by a Chinese state-owned entity, after China's CNOOC Ltd. CEO -1.21% acquired bankrupt oil-sands producer OPTI Canada Inc. in July.
China Petrochemical, as known as Sinopec, is paying a hefty premium for Daylight, which produces light oil and natural gas from properties in northeast British Columbia and northwestern Alberta. The offer is worth C$10.08 a share, or more than twice…
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