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CNOOC Limited acquires OPTI Canada Inc for USD2.1bn.

M2 EQUITYBITES-November 29, 2011-CNOOC Limited acquires OPTI Canada Inc for USD2.1bn(C)2011 M2 COMMUNICATIONS

Oil & gas company CNOOC Limited (NYSE:CEO) (SEHK:0883) announced on Monday the completion of its acquisition of OPTI Canada Inc (OPTI) for a purchase price of approximately USD2.1bn.

This purchase was initiated by the company's wholly-owned subsidiary, CNOOC Luxembourg Sarl.

In conjunction, OPTI will file an application to delist the OPTI shares with the TSX Venture Exchange effective 1 December 2011.

Additionally, OPTI will redeem all of its outstanding USD825m first lien notes at 102% of the principal amount of the first lien notes plus accrued and unpaid interest to the date of redemption, pursuant to the indentures governing the notes.

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Publication:M2 EquityBites (EQB)
Date:Nov 29, 2011
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