HONG KONG Dec 24 China's Sinopec Group,
parent of top Asia refiner Sinopec Corp ,
said it had completed the acquisition of Canadian oil and gas
explorer Daylight Energy Ltd for C$2.2 billion ($2.16
Its subsidiary Sinopec International Petroleum Exploration
and Production Corp (SIPC) will get Daylight's assets in 69 oil
and gas fields in northwest Alberta and northeast British
Columbia via the deal, Sinopec said in a statement late Friday.
"Sinopec will fully utilise the advantage of Daylight's
existing management, technology and human resources to further
expand and develop its oil and gas business in Canada," the
state-owned company said.
In October, SIPC agreed to buy all outstanding shares of
Calgary, Alberta-based Daylight for C$10.08 each, more than
double the closing price of C$4.59 per share prior to the
Shares of Daylight, which was listed in Toronto in 2004,
closed at C$10.07 on Friday.