Sinophus Energy buys Husky for $ 24 billion

Canadian oil and gas producer Sinovus Energy has bought rival Husky Energy in a $ 23.6 billion share swap.

According to CNBC Arabia, a statement issued by the two companies stated that the shareholders of Husky Energy would receive 0.7845 shares of Sinofus and the right to purchase 0.0651 shares in it for every ordinary share of them. The Husky

and the statement indicated that the combined company will achieve annual savings of $ 1.2 billion and will be based in Alberta, Canada under the name Sinofus Energy.

Alex Bourbet, CEO of Siphonos, will assume the position of CEO of the new company after the merger and Jeff Hart, who is currently the director of MaliHaski, will become the financial director of the new company.

Sinovos said that the new company will be the third largest oil and natural gas company in Canada with a production of 750,000 barrels of oil equivalent per day.