HONG KONG (Reuters) - China's top offshore oil producer CNOOC Ltd has entered into an agreement to purchase Canada's Nexen Inc for about $15.1 billion, the Chinese company said on Monday.
"The aggregate value of the consideration of the proposed acquisition is approximately $15.1 billion (approximately HK$117.2 billion), and is to be payable in cash," CNOOC said in a statement filed on the Hong Kong stock exchange.
"The current indebtedness of Nexen of approximately $4.3 billion (approximately HK$33.6 billion) will remain outstanding. The company intends to fund the proposed acquisition through existing cash resources and external financing."
For the full statement, please click on: http://www.hkexnews.hk/listedco/listconews/sehk/2012/0723/LTN20120723422.pdf
(Reporting by Lee Chyen Yee; Editing by Chris Lewis)
