logo
Plus   Neg
Share
Email

Total Not To Buy Anadarko's Interests In Ghana - Quick Facts

Occidental Petroleum Corp. (OXY) announced Monday that Total S.A. (TOT) has informed Occidental that it is not interested in purchasing Anadarko Petroleum Corp.'s (APC) interests in Ghana in the current circumstances.

The Ghana assets sale was conditional upon the completion of the Algeria assets' sale. Occidental would not be in a position to sell its interests in Algeria to Total.

This was part of a Purchase and Sale Agreement entered into between Total and Occidental in August 2019 for Total to acquire Anadarko's assets in Africa. Total and Occidental have since completed the sale and purchase of the Mozambique and South Africa assets.

On May 5, 2019, Occidental entered into a binding agreement to sell Anadarko's Algeria, Ghana, Mozambique and South Africa assets to Total for $8.8 billion. The sale is contingent upon Occidental completing its acquisition of Anadarko.

On May 9, Occidental agreed to buy Anadarko in a transaction valued at $57 billion, including the assumption of Anadarko's debt.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter could face a fine of up to $250 million from the U.S. Federal Trade Commission regarding its use of phone numbers and email addresses to target advertisements. Lord & Taylor joined the growing list of U.S. retailers who filed for bankruptcy amid the coronavirus pandemic. Lord & Taylor, one of the oldest department store chains in the U.S., filed for bankruptcy protection in the Eastern Court of Virginia on Sunday. The company operated 38 stores that have remained temporarily closed since March this year due to the pandemic. Thomson International Inc. is recalling Red, Yellow, White, and Sweet Yellow Onions for potential contamination with Salmonella, according to a statement by the U.S. Food and Drug Administration or FDA. The onions are in distribution since May 1, 2020. They were sold to wholesalers, restaurants, and retail stores in all 50 U.S. states, the District of Columbia and Canada.
Follow RTT