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takeovers

August 25, 2017

AP Moller-Maersk is to sell its oil and gas assets to French firm Total for $7.45 billion, a decision the matriarch of the founding family described as “difficult, but right”.

AP Moller-Maersk is to sell its oil and gas assets to French firm Total for $7.45 billion, a decision the matriarch of the founding family described as “difficult, but right”.

The agreement follows an announcement late last year by Maersk that it would split its operations into two entities, one focussed on energy (Maersk Oil), the other on container shipping, ports and logistics (Maersk Line).

August 24, 2017

Heineken takeover approved, Michael Hill profits boosted by Canada, and JAB Holdings to cast off Bally

Heineken takeover approved

The UK Competition and Markets Authority (CMA) has approved Heineken’s takeover of 1,900 pubs, saying it is satisfied the deal will not cause customers to “lose out”.

The Netherlands-based brewer proposed in June a £403 million ($516 million) purchase of the pubs, currently owned by Punch Taverns, a deal Punch shareholders approved in February.

The CMA then raised concerns about reduced competition in 33 UK areas.

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