BP Confirms $5.6 Billion Sale of Alaska Business to Hilcorp Energy
27 Abril 2020 - 4:25AM
Dow Jones News
By Matteo Castia
BP PLC confirmed Monday its expectations to complete the
disposal of its Alaska business to Hilcorp Energy Co. in June for
$5.6 billion, and that it has agreed to new adjust some terms of
the deal to reflect current market conditions.
The British energy giant said the total consideration remains
intact under the newly renegotiated terms, while payment phasing
has been made more flexible due to the current volatility in the
oil market.
Specifically, the deal includes lower payments this year and an
increased portion of the consideration subject to earnout, the
company said.
The original agreement provided for Hilcorp to pay $4.0 billion
in the near term and $1.6 billion through an earnout thereafter,
with a $500 million deposit paid last year upon signing of the
deal.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
April 27, 2020 03:10 ET (07:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Bp (LSE:BP.)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Bp (LSE:BP.)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024
