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Maersk & DONG Energy in Talks Over $10 Billion Oil Merger

Source: Reuters 11/28/2016, Location: Europe

Denmark's A.P. Moller-Maersk and DONG Energy are in talks to merge their oil and gas operations in a deal that would create a business worth more than $10 billion including debt, sources familiar with the matter said.

Maersk is working with Bank of America on the potential deal, while JP Morgan is assisting DONG Energy, said the people, who cautioned there is no certainty the parties would come to terms.

Maersk said in September it planned to merge or spin-off its energy assets as part of a major restructuring and instead focus on its core transport and logistics businesses.

DONG Energy said this month it was putting its oil and gas assets up for sale, as it wants to shift away from fossil fuels toward offshore wind.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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