Asia While CNOOC and Minmetals have failed with their attempts to buy global assets, PetroChina has been more successful. In August, the biggest of China’s oil and gas trio bought Canada’s PetroKazakhstan for $4.18 billion. The company then raised over $2.7 billion in the equity markets, fuelling speculation that it will make more overseas acquisitions.
Indian companies are also becoming more aggressive. In February Tata Motors, India’s biggest automobile manufacturing company, bought a 21% stake in Spain’s Hispano Carrocera, with an option to buy 100% holding.
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