Chinese state-owned companies, or SOCs, are increasingly powering up their portfolios with Canadian energy and mining assets. They’re drawn to Canada’s wealth of natural resources–especially in the oil and gas sector–as well as its vibrant capital markets andstable political system. The Chinese are also interested in acquiring Canadian management teams with the expertise in exploration, extraction, and refining that the SOCs need in order to compete with the oil majors.
Listed below (and linked to) are the ten largest Canadian acquisitions by Chinese SOCs, arranged by date. (We used data from Thomson Reuters Corporation and our own research to compile our roster.) The deal list shows a gradual evolution toward more and bolder investments–and a steady reliance on just a few of the elite Toronto-based firms. The Chinese “are looking at being true super-majors in the oil and gas area,” says Stikeman Elliott’s David Lefebvre. And Canada is eager and willing to partner with them.
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