Facade of Repsol headquarters in Madrid. / CLAUDIO ALVAREZ
Repsol discussed at the meeting of the Board of Directors on Monday the possible acquisition of the entire share capital of the Canadian oil company Talisman, as reported by the company itself into a significant event sent to the Comisión Nacional del Mercado de Valores (CNMV). Also the American company has confirmed it is in talks with Spanish oil company in connection with “a corporate transaction.”
Talisman has indicated that it will only comment on the talks, and noted in a statement that “has been contacted by others regarding various transactions “without specifying the companies or proposals submitted.
On Friday, British media said that Repsol is negotiating the acquisition of Talisman in the Canadian city of Calgary, where the headquarters of the company.
They explained that the goal is to reach an agreement before the end of the year and Repsol has offered between 6 and 8 Canadian dollars (between 5.1 and 6.9 US) per share from Talisman.
The total transaction price could be set at US $ 8,000 million.
On Thursday, shares of Talisman closed at $ 4.3 Canadian per share, but on Friday, after the appearance of the first information on Repsol’s interest in the Canadian company, the value of securities soared 18%.
Talisman operates oil and gas wells in North America and Colombia, as well as in the Asia-Pacific.
Canadian media communication indicate that the main obstacle in negotiations between Repsol and Talisman are assets that the US company has in the North Atlantic along with China’s Sinopec and have led to numerous problems of exploitation.
Repsol announced its intention to acquire assets in exploration and production of hydrocarbons, after obtaining compensation for the expropriation of YPF and discard the participation that still had oil in Argentina.
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