Spain: Repsol buys out Canadian rival

Spanish oil giant Repsol has completed the months-long acquisition process involving Canadian energy firm Talisman Energy, in a transaction worth 7.5 billion Euros.

The purchase will strengthen the multi-national’s business portfolio, improving their hydrocarbon production capabilities. The move allows the firm to maintain healthier financial balances and greater flexibility when assigning and distributing expenses, said Fitch Ratings in comments regarding the deal.

The move will see Repsol walk out with 100% of Talisman’s shares, thus expanding their geographic presence towards North America, adding to already booming investments in Latin America and Asia.

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