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24 Hours Across Africa

Chevron to Buy Andarko Petroleum for $33bn

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Reuters-

Chevron Corp said on Friday it would buy smaller rival Anadarko Petroleum Corp for $33 billion in cash and stock to strengthen its presence in the Permian basin and beef up its LNG business.

The offer of $65 per share represents a 39 percent premium to Anadarko’s Thursday close. Anadarko’s shares soared 33 percent in light premarket trading, while Chevron shares fell 1.5 percent.

“The combination of Anadarko’s premier, high-quality assets with our advantaged portfolio strengthens our leading position in the Permian, builds on our deepwater Gulf of Mexico capabilities and will grow our LNG business,” Chevron Chief Executive Officer Michael Wirth said in a statement.

Chevron also said it plans to divest $15 billion to $20 billion of assets between 2020 and 2022.

The enterprise value of deal is $50 billion.

Credit Suisse Securities (USA) LLC is Chevron’s financial adviser, while Paul, Weiss, Rifkind, Wharton & Garrison LLP is its legal adviser.

Evercore and Goldman Sachs are financial advisers to Anadarko, while Wachtell, Lipton, Rosen & Katz and Vinson & Elkins LLP are its legal advisers.

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24 Hours Across Africa

Female robber escaping through a window at the bank

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A female robber trying to escaping through the window after robbing a bank in Adum area of Kumasi in Ghana.

In the video, the lady threw the money down from the window and jumped down to get the money, but she was caught and arrested by the bank’s security operatives.

The details of the lady is still unknown as at the time of filling this report

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24 Hours Across Africa

South Africa returness receive a token from Lagos State Governor

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Governor Babajide Sanwo-Olu of Lagos State gave N20,000 to each 315 Nigerians evacuated from South Africa.

This second batch of returnees arrived a week after another 187 Nigerians fleeing xenophobia came back from South Africa. The returnees arrived at the Murtala Muhammed International Airport, Lagos. The flight, which originated from the OR Tambo International Airport, Johannesburg was received by Mrs Abike Dabiri-Erewa, Chairman, Nigerians in Diaspora Commission and Air Peace Chairman, Allen Onyema. Also on ground was Jermaine Sanwo-Olu, Senior Special Assistant to the Lagos State Governor on Diaspora.

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