Sector News

Talisman says Repsol, others approach for deal

December 9, 2014
News
(Reuters) – Canadian oil producer Talisman Energy Inc said it has been approached by a number of parties, including Spain’s Repsol SA, for various transactions.
 
Talisman said there is no assurance that any transaction will be agreed and that it does not intend to make any further comment on the matter now.
 
Bloomberg reported on Monday that Repsol and Talisman have revived talks and are in the process of discussing options that could include sale of a selection of assets or the entire company. (bloom.bg/1A8Yfkn)
 
Talisman, which has a market capitalization of nearly C$11 billion ($10.2 billion), was approached by Repsol in July about potential deals.
 
The talks between the companies broke down in August over Talisman’s North Sea assets, which have consistently missed production targets and weighed down its stock.
 
Representatives at Repsol were not immediately available for comment.
 
($1 = 1.1479 Canadian dollars) (Reporting by Shivam Srivastava and Rishika Sadam in Bengaluru; Editing by Gunna Dickson and Gopakumar Warrier)

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