CNOOC has announced its intention to acquire a 50% stake in Bridas Corporation for a consideration of US$3.1 billion. Bridas has upstream interests across the Southern Cone of Latin America through its 40% stake in Pan American Energy, a Buenos Aires-based Joint Venture in which BP holds the balance. The deal pertains only to Pan American Energy's assets in Argentina, which accounts for the vast majority of the value in its portfolio, and an exploration block in Chile. The deal is ...
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Deal insight | Mar 2010
CNOOC Ltd to acquire 50% of Bridas Corporation
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