Total $7.45 billion acquisition of Maersk Oil & Gas

24/8/2017
Private acquisition

$ 7.45 billion

Announced

24/8/2017


Overview:

  • 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

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