Davis Polk is advising CNOOC Limited on its approximately $15.1 billion acquisition of Nexen. The transaction, which has been unanimously approved by the boards of directors of both companies, will be completed by way of scheme of arrangement and is expected to close in the fourth quarter of 2012.
Nexen is an independent, Canadian global energy company, listed on the Toronto and New York stock exchanges under the symbol NXY. CNOOC Limited is China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world.
The Davis Polk corporate team includes partners George R. Bason Jr., Howard Zhang, Leonard Kreynin and Kirtee Kapoor and associates Brian J. Snyder and James E. Elworth. Partner Ronan P. Harty is providing antitrust advice. Partner John B. Reynolds III is providing CFIUS advice. Partners Paul Chow and Antony Dapiran are providing Hong Kong law advice. Members of the Davis Polk team are based in the New York, Beijing, Hong Kong and Washington DC offices.
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