Comment on France's Total buying Maersk Oil for $7.45 billion

France's Total buying Maersk Oil for $7.45 billion

COPENHAGEN, Denmark (AP) — French oil company Total is strengthening its position in the North Sea with the acquisition of Danish conglomerate AP Moller-Maersk's oil business for $7.45 billion. The sale of Maersk Oil is part of Maersk's major restructuring which will see it focus on its core transport and logistics arms. As part of the deal, the company will get $4.95 billion worth of Total shares.

 

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