China's National Development and Reform Commission, the country's top economic planner, said Friday on its website that it approved CNOOC's acquisition of Canadian oil and gas company Nexen Inc in December.
On Dec 7, the Canadian government approved CNOOC's planned acquisition of Nexen, a major step for the company toward completing the largest foreign acquisition by a Chinese company.
The deal, which also involves Nexen's assets in the United States, the United Kingdom and other countries, is still waiting approval by those governments.
A CNOOC spokeswoman said last month that the deal is expected to be completed in the first quarter of this year.
Timeline:
CNOOC joins Nexen in Gulf JV Mexico JV -- Dec 2, 2011
CNOOC's Nexen deal expected to open two-way street -- July 25, 2012
CNOOC to stick to market procedures in Nexen deal -- July 27, 2012
CNOOC pushes ahead with Nexen acquisition --Aug 22, 2012
Nexen schedules vote on CNOOC's $15.1b offer -- Aug 27, 2012
CNOOC Nexen bid 'net benefits' Canada and China -- Oct 9, 2012
Canada extends review of CNOOC's Nexen bid -- Oct 12, 2012
CNOOC's Nexen bid review extends another 30 days -- Nov 5, 2012
Nexen deal approval 'in sight' -- Nov 10, 2012
CNOOC, Nexen reapply for US deal approval -- Nov 28, 2012
Nexen deal resubmission part of approval process -- Nov 30, 2012
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