Apache said the deal is dependent on regulatory approval and is expected to close in the fourth quarter of this year.
Shares in Apache traded Friday in the afterhours market at $81.30, up $2.66, or 3.4%, on their Thursday closing price of $78.64. Apache has a market capitalization of $30.6 billion. Sinopec shares closed Friday on the Hong Kong exchange at HK$2.73 ($0.35), down HK$0.08, or just under 3%.
-- Written by Paul Whitfield in New York
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