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China Wins Approval For Kazakh Oil Acquisition

26 October 2005 -- China has won court approval for its biggest foreign acquisition to date.

A court in Canada on 25 October approved the purchase of oil producer PetroKazakhstan by China's biggest state oil company, China National Petroleum Corp.

PetroKazakhstan is a Canadian company but has all of its production in Kazakhstan.

The verdict by the Alberta court clears the way for the $4.18 billion deal to be closed.

(AP/"Financial Times")