IN BRIEF (Page 13)

Sinopec completes deal

Sinopec Group said yesterday it has completed its $7.5-billion acquisition of Addax Petroleum, obtaining new reserves in Africa and the Middle East in China's biggest foreign corporate takeover to date. Sinopec wants to expand its production capacity to profit from rising crude prices that have cost it billions of dollars in recent years due to government caps on retail fuel prices.

Guosheng in JV with CLSA