Sinopec may bid for French explorer Maurel & Prom

11/1/2012

Sinopec may bid for French explorer Maurel & Prom

BEIJING -- Sinopec, is considering acquiring French oil explorer Maurel & Prom after holding informal talks with the company over the past year, Bloomberg News reported on its website, citing three people with knowledge of the matter.

A deal could value Maurel at more than $2 billion, the people said, adding though that hurdles remain, Bloomberg reported. Phone calls to Sinopec's Beijing based spokesman were unanswered, while an official at Maurel declined to comment, Bloomberg said.

Dow Jones Newswires

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