Sinopec/Daylight

Sinopec buys Daylight for $2.1 billion

Sinopec inks a deal to buy Canada's Daylight Energy for more than $2 billion as China’s government-controlled companies remain hungry for natural resources.
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Photo: ImagineChina</div>
<div style="text-align:right; font-size:7pt; color:rgb(119, 119, 119);"> Photo: ImagineChina</div>

China Petrochemical Corporation, better known as Sinopec, is back on the acquisition trail after a brief hiatus and yesterday announced its biggest deal so far this year, paying C$2.2 billion ($2.1 billion) for Daylight Energy, an oil and natural gas producer with assets in Alberta and British Columbia in Canada.

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