BP sells its Colombian business unit to Ecopetrol and Talisman
BP has agreed the sale of its Colombian E&P business to Ecopetrol and Talisman for a net consideration of US$1,755 million. This price is in-line with our base case valuation of US$1.8 billion. The scope of BP's divestiture programme was recently increased from US$10 billion to US$30 billion, in the face of escalating estimates of the total cost of the Deepwater Horizon disaster. In completing this, and the recently announced US$7 billion Apache transaction, BP will have secured ...