Sinopect takeover deal for Daylight Energy closes

A $2.2-billion takeover deal for Daylight Energy Ltd. (TSX:DAY) by Chinese company Sinopec International Petroleum Exploration and Production Corp. closed Friday.

CALGARY — A $2.2-billion takeover deal for Daylight Energy Ltd. (TSX:DAY) by Chinese company Sinopec International Petroleum Exploration and Production Corp. closed Friday. The oil and natural gas producer will operate as Sinopec Daylight Energy Ltd. The deal is part of a broader trend where Chinese companies are acquiring oil and gas, potash, mineral and coal assets in Canada as part of a global push to secure supplies of key resources needed to power the rapidly growing Chinese economy.