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The French Total purchased business from the Danish Moeller-Maersk for $ 7.45 billion

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The French Total purchased business from the Danish Moeller-Maersk for $ 7.45 billion
August 21
09:00 2017

The Danish company Moeller-Maersk A / S is known to the public primarily for its success in the field of the sea shipping and port business. However, its interests are vast and not limited to the transport of goods. The company has been developing for a century and currently has about ninety thousand employees in more than 130 countries around the world.

The company based in Copenhagen has reached an agreement to sell its oil and gas division Maersk Oil. The French company Total SA announced its desire to buy it. This company takes the fourth place in the world in terms of the volume of extracted resources. The company as well as the Danes can be proud of its 90-year history. Currently, more than 110 thousand people work in 130 countries for the benefit of the company. The announced transaction amount is $ 7.45 billion.

The deal has to go through several routine stages. This is approval by the Ministry of Energy, Climate and Public Services in Denmark as well as by other regulatory bodies.

It is assumed that all necessary permits will be received in the first quarter of the next year. 4.95 billion US dollars will be transferred to the Danes in the form of shares of the French oil and gas corporation (about 97.5 million shares or 3.76% of the capital). In addition, the transfer of liabilities on short-term debts of the Danish company totaling $ 2.5 billion will become the condition of the transaction. The French Total plans to compensate these liabilities immediately after the Danish company sells its oil and gas division.

The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade

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