Quantcast
Friday , August 18 2017
Breaking News
Home / International Customs / Spain / Spanish Repsol to buy Talisman Energy’s 5th largest producer for $13b
Spanish Repsol to buy Talisman Energy’s 5th largest producer for $13b

Spanish Repsol to buy Talisman Energy’s 5th largest producer for $13b

MADRID: Repsol Spanish oil company said on Tuesday it had reached an agreement to purchase Talisman Energy’s fifth largest producer Canadian oil company in exchange for $ 13 billion.

This contributes to reducing the company’s dependence on the production of high-risk areas such as Libya. And promote the proposed transaction exploration and production activities in Repsol to compensate for the confiscation of their activities in Argentina in 2012.

Further Repsol will pay $ 8.3 billion for the purchase of Talisman and fully 56 percent premium to the market value of the company based in Calgary and will bear the debts of $ 4.7 billion.

Spanish company said the deal will raise production 76 percent to 680 thousand barrels per day and reserves will grow 55 percent. She added that the deal will bring annual benefits of $ 220 million.