Total, an oil giant with locations all over the world and throughout the Americas, has announced that the Boards of Total and A.P. Møller – Mærsk have both approved the acquisition of 100 percent of the equity of Maersk Oil & Gas A/S (Maersk Oil), a wholly owned subsidiary of A.P. Møller – Mærsk A/S, by Total in a share and debt transaction.
Under the agreed terms, A.P. Møller – Maersk will receive a consideration of USD $4.95 billion in Total shares and Total will assume USD $2.5 billion of Maersk Oil’s debt.
Total expects to generate operational, commercial and financial synergies of more than USD $400 million annually, in particular by the combination of assets of Total and Maersk Oil in the North Sea, an area of excellence for both companies.