Total S.A. To Sell Its Wholly Owned Subsidiary To Shell

  • Oct 30, 2019 GMT
  • Team Kalkine
  • Total S.A. (TTA) has entered into an agreement with Shell to sell its wholly owned subsidiary Total E&P Deep Offshore Borneo.
  • The consideration for the sell is worth $300 million, and the transaction is expected to close by December 2019.
  • The said subsidiary holds an 86.95% interest in Block CA1, located 100 kilometres off the coast of Brunei, while its partners Murphy Oil holds 8.05% and Petronas 5% interest in the Block.
  • On 30th October 2019, at the time of writing, GMT 12:22 PM, TTA shares were trading at EUR 47.48, down by 0.26 points or 0.55 per cent against the previous day closing price.

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