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Total Acquires Maersk Oil


The combination with Maersk Oil offers Total an exceptional overlap of upstream businesses globally.The Boards of Total and A.P. Møller – Maersk have both approved the acquisition of 100% of the equity of the E&P company Maersk Oil, a wholly owned subsidiary of A.P. Møller – Mærsk, by Total in a share and debt transaction.

Under the agreed terms, A.P. Møller – Maersk will receive a consideration of EUR4.2 billion in Total shares and Total will assume EUR2.1 billion of Maersk Oil’s debt. Total will issue to A.P. Møller – Maersk 97.5 million shares, based on the average Total share price on the 20 business days prior to August, 21 (signing date) which will represent 3.75% of the enlarged share capital of Total. Underpinning this share-based partnership, subject to Total shareholders’ approval, Total has also offered the possibility of a seat on its Board of Directors to A.P. Møller Holding, main shareholder of A.P. Møller – Maersk.

The proposed transaction is subject to both the applicable legally required consultation and notification processes for employee representatives and to approvals by the relevant regulatory authorities. The transaction is expected to close in first quarter 2018 with an effective date of 1st July 2017.

The combination with Maersk Oil offers Total an exceptional overlap of upstream businesses globally, which will enhance Total’s competitiveness and value in many core areas, in particular through some high-quality growing assets and through the delivery of synergies.

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