Middle East Economic Survey

VOL. XLVIII

No 43

24-October-2005

CASPIAN

PetroKazakhstan Shareholders Approve $4.18Bn Sale To CNPC

Shareholders in Canadas PetroKazakhstan on 18 October voted by 99% to approve the sale of the company to the China National Petroleum Corporation (CNPC) at a price of $55 per share, making the deal worth around $4.18bn. However, it awaits the outcome of a court ruling before it can go ahead. PetroKazakhstan said on 19 October that it had sought from an Alberta court a...