.
MergerLinks Header Logo

Announced

Suncor Energy to acquire oil sand assets from TotalEnergies for CAD6.1bn.

Financials

Edit Data
Transaction Value£3,606m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

Edit

Majority

Single Bidder

Friendly

Canada

Oil: Crude Producers

Infrastructure

Pending

oli producer

Acquisition

Domestic

Private

Synopsis

Edit

Suncor Energy, an integrated energy company specialized in production of synthetic crude from oil sands, agreed to acquire oil sand assets from TotalEnergies, an energy company that produces and markets oil and biofuels, natural gas and green gases, renewables, and electricity for CAD6.1bn. "This transaction represents a major step in securing long-term bitumen supply to our Base Plant upgraders at a competitive supply cost. These are valuable oil sands assets that are a strategic fit for us and add long-term shareholder value. The acquisition also introduces flexibility and optionality into our long-range capital plan, providing us with further discretion in respect of the timing and scope of future oil sands developments," Rich Kruger, Suncor President and CEO.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US