Reuters reported that China CNOOC and Ghana National Petroleum Corp. have submitted a USD 5 billion bid for Kosmos Energy LLC assets in the West African state.

Buyers have been circling Kosmos, attracted to the company stake in a large oil discovery known as the Jubilee field.

Kosmos is backed by private equity firms Blackstone Group and Warburg Pincus. Exxon Mobile had previously offered USD 4 billion for the stake.

(Sourced from Reuters)