Occidental Agrees To Contingent Sale Of Anadarko African Assets To Total For $8.8 Billion [Reuters]
ANADARKO PETROLEUM (APC)
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Source: Reuters
Anadarko Petroleum Corp (APC.N) Key Developments | Reuters.com May 5 (Reuters) - Occidental Petroleum Corp ::OCCIDENTAL AGREES TO CONTINGENT SALE OF ANADARKO AFRICAN ASSETS TO TOTAL FOR $8.8 BILLION.OCCIDENTAL - IN CONNECTION WITH OCCIDENTAL'S PROPOSAL TO BUY ANADARKO , ENTERED BINDING AGREEMENT TO SELL CO'S ALGERIA, GHANA, MOZAMBIQUE ,SOUTH AFRICA ASSETS TO TOTAL S.A.OCCIDENTAL PETROLEUM CORP SAYS SALE IS CONTINGENT UPON OCCIDENTAL ENTERING INTO AND COMPLETING ITS PROPOSAL TO ACQUIRE ANADARKO.OCCIDENTAL- AFTER ASSET SALE, CO EXPECTS TO DELIVER $2 BILLION ANNUAL COST SYNERGIES, $1.5 BILLION ANNUAL CAPITAL REDUCTIONS FROM PROPOSED ANADARKO ACQUISITION.OCCIDENTAL PETROLEUM -PROCEEDS OF SALE OF NON-STRATEGIC ASSETS COVERS A PORTION OF CASH CONSIDERATION TO FUND PROPOSED ACQUISITION OF ANADARKO. Reuters, the news and media division of Thomson Reuters , is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted bu
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