BEST CROSS-BORDER M&A DEAL

BEST CROSS-BORDER M&A DEAL

Brazil Asia China M&A Corporate & Sovereign Strategy

In March, state-owned CNOOC announced its investment in Bridas for $3.1 billion in cash.  Until Bridas unveiled in late November it would pay $7.06 billion for BP’s 60% stake in Pan American Energy (PAE), the March transaction was the biggest M&A deal in Argentine oil & gas since 2000, according to Dealogic. "It was a bold move by the Chinese," Jorge Barreda, partner at SinoLatin Capital, an M&A advisory firm that specializes in Asia-LatAm investments, tells LatinFinance. Both the size of the deal and CNOOC’s willingness to take a minority position in a country traditionally seen as high risk are indications of how far China will go to secure natural resources.

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