FOCUS 10


KPMG working with CNOOC


W


ith a deal value of over US$15 billion, including debt, the recent acquisition of Canadian listed oil and gas company Nexen by China’s CNOOC represented a watershed moment in China’s corporate history. Not only was it the country’s largest cross-border takeover, it also demonstrated that a Chinese state-owned business could successfully acquire important assets in


North America’s politically sensitive Oil & Gas industry. The deal took many months to complete, with a multi-disciplined team from KPMG member fi rms playing an integral role in bringing the negotiations with CNOOC, Nexen and industry regulators to a successful conclusion.


© 2013 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.


THE TRANSACTION REQUIRED A THOROUGH UNDERSTANDING OF THE RISKS AND VALUE DRIVERS ACROSS A RANGE OF COMMERCIAL SITUATIONS AND TERRITORIES.


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CNOOC


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