Occidental Petroleum has plans to sell a majority-control stake of Western Midstream Partners, owned by Anadarko Petroleum Corp., reported Bloomberg.
Anadarko officially terminated its previously announced acquisition deal with Chevron Corp. and entered into a definitive merger agreement with Occidental on May 9. The equity purchase price of Occidental cash-and-stock deal was valued at $38 billion, and the deal’s total transaction value is $57 billion, including the assumption of Anadarko’s debt.
