Antonio Brufau, CEO of Spanish oil company Repsol said the company’s takeover of Canadian oil company Talisman Energy will become effective in May.
Brufau said that that once all the requirements agreed to by the parties for the completion of the transaction have been met the integration of Talisman Energy will become effective on May 8th.
A new organizational structure will be unveiled on that same day, with all the executive functions controlled by Josu Jon Imaz.
Repsol says that after the acquisition of the Canadian company, the company will become one of the world’s largest listed companies, adding a portfolio of high-quality and high-potential assets in OECD countries.
Brufau described the deal as “a transformative transaction that makes us one of the most important players in the international energy sector and allows us to grow as a company and reinforce Repsol’s character as an integrated energy company with a solid, competitive project.”
“We have the best chief executive officer (Josu Jon Imaz) to guarantee value creation from the purchase of Talisman,” he said, after announcing that all the requirements agreed to by the parties for the completion of the transaction had been met. “Josu Jon is a model professional who is also young enough to successfully lead the future of this company. He has my full support and that of the board.”