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PetroChina Buys $5.4B Encana Gas Assets
Chinese oil company, PetroChina, will acquire a 50% stake in Encana’s Cutbank Ridge assets.
Chinese oil company,PetroChina, will acquire a 50% stake inEncana’s Cutbank Ridge assets,Bloombergreports. The Beijing-based company will pay $5.4 billion for the Canadian company’s gas assets.
The transaction still requires regulatory approvals, including clearance under the Investment Canada Act, adds金融时报》.RBC Capital MarketsandJefferies & Companyare advising Encana on the deal.
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