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Total backs out of buying Occidental's assets
May 19, 2020
Source: Reuters

Total backs out of buying Occidental's assets

Total will no longer pursue the acquisition of Occidental’s assets in Ghana, following a snag in the sale of assets in Algeria. When Occidental Petroleum completed one of the largest oil mergers and acquisitions of the past few years, buying Anadarko Petroleum and assuming its debt in a transaction valued at a total of US$55 billion, Occidental had signed a binding agreement to sell Anadarko’s assets.

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