Total Kenya parent firm buys Maersk Oil in $7.5 bn deal
A Total Kenya outlet. Total said the acquisition was expected to result in synergies of more than $400 million (Sh41.3 billion) a year. PHOTO | FILE
French oil firm Total is buying Maersk Oil in a Ksh769 billion ($7.45 billion) deal which the French oil major said would boost its earnings and cash flow, and bolster its dividend prospects.
Danish company AP Moller Maersk is selling its Maersk Oil division to Total to focus on other activities including its shipping business.
