- Total has acquired Mærsk Olie og Gas (Maersk Oil & Gas) for $7.45 billion from Møller – Mærsk.
- Maersk Oil & Gas’s entitlement production totalled 313,000 barrels of oil equivalent per day in 2016. The company is also engaged in exploration and development activities.
- Total is an oil and gas and energy company.
- The consideration comprises 97.5 million newly-issued Total shares valued by the parties at $4.95 billion based on average share prices. They represent 3.75% of the company’s post-increase share capital.
- Total will take on $2.5 billion short term debt.
- Total will pay 3% annual interest on the enterprise value between 30 June 30 2017 and close, which is expected to take place in the first quarter of 2018.
Jordan Hughes - Journalist