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Real Assets

ConocoPhillips Divests Canadian Oil Sands Assets To Cenovus Energy For $13.3B

by libraryforsmartinvestors.com posted 1year ago 522 views
In a bid to slash its debt and improve share repurchases, U.S. multinational energy firm ConocoPhillips (NYSE:COP) agreed to divest a large chunk of its Canadian assets to Cenovus Energy Inc. (NYSE:CVE) in a cash and stock deal valued at $13.3 billion. The transaction, which was dubbed by both companies as transformational, covers ConocoPhillips’ 50% […]