TOKYO - The Bank of Japan kept policy steady on Wednesday despite concerns over recent volatility in bond market, saying growth is starting to pick up even as risks loomed from an uncertain global outlook.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Canada approves Exxon's $2.6 billion purchase of Celtic Exploration
(Reuters) - Celtic Exploration Ltd CLT.TO said the Canadian government has approved its acquisition by Exxon Mobil Corp (XOM.N), paving the way for the $2.64 billion deal to be closed four months after it was first announced.
Celtic Exploration said in a statement late on Wednesday that no further regulatory approvals are required as the Minister of Industry approved the transaction under the terms of the Investment Canada Act.
In October, Exxon Mobil's Canadian subsidiary, ExxonMobil Canada, agreed to buy Celtic Exploration for C$2.6 billion ($2.64 billion), in a deal to raise its presence in some of Western Canada's most promising shale oil and gas regions.
A key provision in the Investment Canada Act requires the government to determine whether certain foreign investments in Canada are of net benefit to the country.
In December Canada approved China's biggest foreign takeover, the $15.1 billion bid by CNOOC Ltd (0883.HK) for energy company Nexen Inc, but drew a line in the sand against future acquisitions by foreign state-owned enterprises.
(Reporting by Sakthi Prasad in Bangalore; Editing by Michael Urquhart)
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