Deals
Total Said to Be in Talks to Sell U.K. Pipeline to ArcLight
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Total SA, Europe’s second-biggest oil company, is in exclusive talks to sell its gas pipeline in the U.K.’s North Sea to ArcLight Capital Partners, according to two people familiar with the matter.
The French company’s Frigg network may be sold to the energy-focused U.S. buyout firm for an enterprise value of as much as $1 billion, the people said, asking not to be identified as the information is private. While discussions are at an advanced stage, a final agreement is yet to be reached and talks may still fall apart, the people said. ArcLight may make the investment through its affiliate, North Sea Midstream Partners, one of the people said.