CNOOC acquires stake in OPTI Canada

30 November 2011: On 28 November 2011, CNOOC has completed its acquisition of OPTI Canada Inc. . The total value of the consideration is approximately US$2.1 billion (approx Rs 10,500 crore) . An application to delist the OPTI Shares will be filed by OPTI with the TSX Venture Exchange on the completion date to go with the completion of the transaction. Subject to approval by the TSX Venture Exchange, the delisting of the OPTI Shares is anticipated to be effective in December 2011. In addition, OPTI will redeem all of its outstanding First Lien Notes at a price equal to 102 per cent of the principal amount of the First Lien Notes plus accrued and unpaid interest to the date of redemption, pursuant to the indentures governing the First Lien Notes.

Source: Yourindustry news