. “These companies are commercial enterprises.”. “These companies are commercial enterprises.”
Any thing is possible. China may just want CPG or part of CPG a JV.
https://www.theglobeandmail.com/report-on-business/industry-news/the-law-page/lawyers-bullish-as-china-shops-for-advice/article1588590/
The Chinese giant’s recent $4.65-billion move to take a 9-per-cent stake in Syncrude Canada Ltd. is China’s largest ever move into the oil sands. Earlier this month, China Investment Corp. put up $985-million for an oil sands joint venture. And Chinese firms have been snapping up mining companies for several years.
David Lefebvre, of Stikeman Elliott LLP’s Calgary office was the lead Canadian lawyer for Sinopec last year in its $7.5-billion purchase of Calgary-based Addax Petroleum Corp., the largest foreign takeover by a Chinese oil company. He says dealing with Chinese oil companies is now no different than dealing with American ones.
“I don’t find it any different being in Beijing than I do being in Houston,” he said. “Except maybe the traffic’s worse.”
Michael Laffin of Blake Cassels & Graydon LLP, the lead lawyer on Sinopec’s deal last month to buy its Syncrude stake, dismisses concerns that the Chinese government is using its companies to grab at oil reserves, pointing out that none of the oil sands production will be shipped to China any time soon.
“This is an investment,” he said. “These companies are commercial enterprises.”
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