Total will buy Maersk Oil for $ 7.45 billion

World Shipping giant Danish Maersk Group on August 21 signed an agreement with the French company, which will be merged stock and debt transactions to buy Maersk's subsidiary Maersk oil company, the acquisition amount of 7.45 billion US dollars.

Under the terms of the agreement, Total will take over the overall organization, portfolio, rights and obligations of Maersk Oil. Analysts believe that the signing of the agreement marks the Maersk Group in the creation of shipping and logistics business-oriented integrated company's strategy to take a substantive step.

Maersk Group CEO Shi Suo Ren said that the agreement will strengthen the Maersk Group financial flexibility and the release of resources, the Group can therefore focus on future growth in container shipping, port and logistics.

"With the advantages of Maersk Oil in safety standards, technology and operations and its Danish background, Total will step up its efforts to optimize and expand oil and gas production in Denmark," said Pan Yanlei, Chairman and Chief Executive Officer of Total Group. Making Total one of the leading international operators in Northwest Europe, making Denmark the regional focus of Total's business in the North Sea. It is reported that the acquisition agreement is still approved by the relevant Danish authorities, is expected to be completed in the first quarter of 2018 transactions.