Deals
OMV to Acquire Pioneer’s Tunisia E&P for $866 Million
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OMV AG agreed to buy Pioneer Natural Resources Co.’s exploration and production assets in Tunisia for $866 million, raising the likelihood central Europe’s biggest oil company may sell new shares to finance recent takeovers.
The price includes $65.7 million of working capital, which will be adjusted based on 2010 financial results, Vienna-based OMV said in a statement today. The transaction is expected to close in the first quarter.