American oil and gas company Chevron Corporation ageed on the purchase of Anadarko Petroleum for $33 billion.
The deal will be paid by cash and shares. Anadarko’s shareholders will get 0,3869 of Chevron’s shares and $16.25 for each paper security. Taking into account Anadarko’s debt the deal cost will be about $50 billion.
“The purchase of Andarko will increase portfolio of assets in the prospecting and production sector and will strengthen company’s position in shale, deep water and gas fields segment”, Chevron’s press release emphasized.
The deal was endorsed by Boards of Directors of companies. It could be closed in the second half of 2019. It is expected that annual synergy of the merger will amount to about $2 billion.
Chevron plans to increase the volumes of shares purchase from $4 billion to $5 billion per year after the deal closure.
Chevron is the second oil and gas company on capitalization in the US as preceded only by ExxonMobil. In 2018 its profit was $14.82 billion compared to 2017 – $9.2 billion.