Deals
Total to Sell $20 Billion of Assets as It Raises Output Goal
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Total SA, Europe’s third-largest oil company, plans to sell as much as $20 billion in assets to raise cash for oil and gas projects.
Total said it would try to sell $15 billion to $20 billion of assets between 2012 and 2014 to cement “active portfolio management,” according to a statement. Chief Executive Officer Christophe de Margerie said the outlook for cash flow gave the company scope to increase dividends and invest in output.