Total to Buy Maersk Oil & Gas for $4.95 Billion in Shares

Total to Buy Maersk Oil & Gas for $4.95 Billion in Shares

8 years ago
Anonymous $wKBR2uNMvM

https://www.bloomberg.com/news/articles/2017-08-21/total-to-buy-maersk-oil-gas-for-4-95-billion-in-shares

Maersk will receive a consideration of $4.95 billion in Total shares and the French company will also assume $2.5 billion of Maersk’s debt, the companies said in statements Monday. The transaction is expected to close in first quarter 2018.

“The combination with Maersk Oil offers Total an exceptional overlap of upstream businesses globally which will enhance Total’s competitiveness and value in many core areas, in particular through some high-quality growing assets,” Total said in its statement.