Announced
Completed
Financials
Tags
Majority
Single Bidder
Public
Alternative Fuels
United States
renewable natural gas
Acquisition
Cross Border
Friendly
Completed
Synopsis
bp, a British multinational oil and gas company, completed the acquisition of Archaea Energy, a renewable natural gas company, for $4.1bn. "Archaea is a fantastic fast-growing business, and bp will add distinctive value through our trading business and customer reach. It will accelerate our key bioenergy growth engine, creating a real leader in the biogas sector, and support our net zero ambition. And, importantly, we're doing this while remaining focused on the disciplined execution of our financial frame. Investing with discipline into the energy transition, creating further value through integration - this is exactly what bp's transformation into an integrated energy company is all about," Bernard Looney, bp CEO.
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