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Repsol acquisition of Talisman done by May 8

Regulatory approvals for deal worth about $13 billion, in hand.

April 30, 2015   by CANADIAN PRESS

CALGARY — Talisman Energy Inc. says its acquisition by Repsol SA is to be completed on May 8.

The Calgary-based company says the required regulatory approvals are in hand and completion remains subject to the satisfaction of customary closing deliverables.

Talisman agreed late last year to be bought by Repsol, and integrated global energy company based in Madrid, Spain, in a deal worth about $13 billion, including $8.3 billion for Talisman stock plus the assumption of its debt.

The company said in February that its shareholders had voted more than 995 to approve the takeover by Spain-based Repsol.

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Also in February, Talisman reported a loss of US$1.59 billion in the fourth quarter of 2014, or $1.54 per share. That compared to a loss of $1 billion, or 98 cents per share, in the same quarter a year earlier.

Talisman’s main operations are in North America, Colombia and Asia.

© 2015 The Canadian Press


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