Total: acquires Maersk Oil.
(CercleFinance.com) - Total has announced the acquisition of all the capital of the exploration-production company Maersk Oil, a 100%-subsidiary of AP Møller-Mærsk, for a total of 7.
45 billion dollars under a transaction in equity and debt.
“The combination of Maersk Oil's North Western Europe businesses with our existing portfolio will position Total as the second operator in the North Sea with strong production profiles in UK, Norway and Denmark, thus increasing exposure to conventional assets in OECD countries.” said CEO Patrick Pouyanné.
The agreement provides that the Danish giant in maritime transport will receive a consideration of $4.95 billion in Total shares and Total will assume $2.5 billion of Maersk Oil's debt.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
45 billion dollars under a transaction in equity and debt.
“The combination of Maersk Oil's North Western Europe businesses with our existing portfolio will position Total as the second operator in the North Sea with strong production profiles in UK, Norway and Denmark, thus increasing exposure to conventional assets in OECD countries.” said CEO Patrick Pouyanné.
The agreement provides that the Danish giant in maritime transport will receive a consideration of $4.95 billion in Total shares and Total will assume $2.5 billion of Maersk Oil's debt.
Copyright (c) 2017 CercleFinance.com. All rights reserved.