Total, the French energy major acquired the African assets of U.S. firm Anadarko. It is one of the biggest acquisitions in almost two decades happening in Africa. The deal worth US$8.8 billion was announced on Sunday, a Total source said. Total’s move to buy Anadarko’s assets, the French firm’s biggest acquisition since taking over Elf almost two decades ago, will add 5 percent to Total’s output by 2025, said Bernstein analysts, who rate Total’s shares. The assets stretching from Algeria to South Africa bolster Total’s operations in Africa, the North Sea, deep offshore and liquefied natural gas (LNG). Total has built up a strong balance sheet under its new CEO, who assumed office in 2014 –Pouyanne. Total was familiar with Anadarko’s portfolio since the US firm was in its radar for quite some time. . Significantly, the deal was done without any support from any investors, which is quite unusual in the corporate circles
