| With economygrowth,China need mineral more and more.So Transnational Aquisition is more active for Chinese resourse corporations to get mineral resourse.Petro is one of most important mineral,Since China became a net oil importer in 1993, China's remarkable economicgrowth has fueled a demand for oil that has outstripped domestic sources of supply.Now,China petro corporations are actively explore the abroad petro resourse and the approach of the offshore fund. The paper is significative for transnational M&A of Chinese resourse corporation.The acquisition of PetroKazakhstan Inc by China National Petroleum Group was announced on August 22, 2005.The paper start from petroleum and natural gas supply and demand of China. In the premise of the national oil security needs,against to the development of strategic CNPC as a starting point for research, this paper analysis the reasons underlying this acquisition.In order to prove the ultimate aim of the acquisition, this paper,not only analyse the strategic point of the acquisition, but also the economic consequences of CPNC acquisition on itself and the combination process.The analysis of the economic consequences include two aspects: Firstly, we empirically test the economic effects on CPNC via doing research on the events. Secondly, we compare the varying trend of the financial indexes before and after the acquisition,with a focus on the business conditions of the three quarters after the acquisition.Beacouse the acquisition has been taken place 3 years,the analysis focused on the typical incident that related to the combination during this yeares.The results show the case is a strategic mergers and acquisitions,chase oil and gas resources is the first purpose of the acquisition. Such strategy is not only the CPNC development strategy,also the country's energy strategy. Finally, we bring out some helpful suggestions towards the Chinese Resource-based enterprises transnational acquisition deals. |
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