CNPC'S BID FOR PETROKAZAKHSTAN TO BE FINALIZED IN OCTOBER
AsiaInfo Services, August, 2005
AsiaInfo Services 08-25-2005 CNPC's Bid for PetroKazakhstan to Be Finalized in October BEIJING, Aug 25, 2005 (SinoCast via COMTEX) -- China National Petroleum Corporation's (CNPC) bid for PetroKazakhstan will be finalized in October.CNPC confirmed that PetroKazakhstan's board has accepted its offer of USD 4.18 billion, and plans to recommend to its shareholders.
But whether CNPC can win the bid will be decided by PetroKazakhstan's shareholders meeting to be staged in October, and CNPC should won over 66 percent support and meeting other requirements like court approval.CNPC, one of the three leading oil giants in the country, announced on August 22 that it participated in the bidding battle for PetroKazakhstan. It offers USD 4.18 billion, or USD 55 per share in...
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