January 5 – Jiangsu Kingfield Garments Co (SHE: 002239) said it plans to explore the mining industry by acquiring a 45% stake in Yunnan province-based Kaxi Mining Co for ¥110 million.
January 4 – 7 Days Group Holdings Ltd (NYSE: SVN), a Chinese budget hotel chain, said it completed the acquisition of Huatian Inn for ¥136 million. Huatian Inn, which operates 21 hotels in 12 cities in central and southern China, was owned by Huatian Great Hotel Co (SHE: 000428).
January 4 – Athabasca Oil Sands Corp said it was selling a 40% stake in one of its oil-sands prospects to PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857), a move that will, for the first time, give full ownership of such a project to a Chinese company, the Wall Street Journal reported. Athabasca is selling its remaining interest in the MacKay River project in northern Alberta to PetroChina for $666 million. In 2010, Athabasca sold 60% of MacKay and a separate development, Dover, to PetroChina for $1.9 billion.
January 4 – Sinopec Group, the parent of Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386), agreed to buy a one-third stake in five of Devon Energy Corp's (NYSE: DVN) exploratory oil projects in the US, Bloomberg reported. Sinopec Group will pay $900 million in cash and $1.6 billion in Devon's future drilling costs, funding 125 wells in the coming year, according to a statement from Devon.
January 3 – LDK Solar Co (NYSE: LDK), China's second largest solar panel maker, said it plans to buy Germany-based Sunways AG for $31.3 million and the purchase would offer access to new technology and a distribution network in China, the world's biggest photovoltaic market, Bloomberg reported. The acquisition would mark the first time a Chinese solar energy company bought a peer in Germany, where a record 7,400MW of solar capacity was installed in 2010.
December 30 – Shenzhen Jinjia Color Printing Group Co (SHE: 002191), a cigarette packaging firm, said it plans to pay ¥285 million for 57% of peer firm, Chongqing Hongsheng, which had ¥878 million in total assets as of November 30, 2011 and posted ¥547 million in revenues and ¥64.14 million in net profits between January and November 2011.
$1 = ¥6.31
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