OXY Argentina Deal Closed

abarrelfullabarrelfull wrote on 20 Nov 2014 13:18

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On Feb. 22, SIPC and OXY closed the transaction for the latter’s Argentina assets. Mr. Geng Xianliang, Vice President of SIPC, delivered a passionate speech over the closing ceremony upon signing. Mr. Liu Jifeng, Chief Accountant, also attended the ceremony. Team members as well as financial and legal advisors were at the closing too.

The SPA was signed on Dec. 3, 2010, according to which SIPC would acquire the 100% of OXY Argentina subsidiaries and related entities for USD2.45bn. This transaction is significant for the economic and trade cooperation between China and Argentina.

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