CNOOC accepts new Canadian terms to win Nexen deal nod - report

HONG KONG Mon Nov 19, 2012 11:02pm EST

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HONG KONG Nov 20 (Reuters) - China's state-owned CNOOC Ltd has accepted management and employment conditions set by the Canadian government to win approval for its $15.1 billion takeover of Nexen Inc, Bloomberg reported on Tuesday, citing two people with knowledge of the matter.

The Canadian government has taken on board requests made by Alberta Premier Alison Redford last month, which include guarantees that at least 50 percent of Nexen's board and management positions be held by Canadians, the report said.