Repsol has agreed with Talisman energy to acquire 100% of the shares of the Canadian company for $8.3 billion plus assumed debt of $4.7 billion. The transaction has been approved and recommended by the board of directors of the Canadian company.
The deal will transform Repsol into one of the world’s largest privately owned energy groups, with increased presence in OECD countries, incorporating reserves and production in politically stable countries. Additionally, it will add a significant exploration portfolio and high-quality productive assets in North America (Canada and U.S.), Southeast Asia (Indonesia, Malaysia and Vietnam) as well as Colombia and Norway, among others.
Once the transaction is complete, North America’s weight in the resulting company will increase to almost 50% of capital employed in exploration. Latin America will represent 22%.
The incorporation of Talisman will increase the output of the Repsol Group by 76% to 680,000 boe/d, and will boost reserves by 55% to 2,353 Bboe. The resulting group will be present in more than 50 countries with more than 27,000 employees.
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