Merger News: HSBC in Talks to Acquire Nedbank, Energen Buys Permian Basin Assets Monday, August 23, 12:54 PM ET
HBC) said today it is in exclusive talks to acquire a majority stake in South Africa-based Nedbank from #1 African insurer Old Mutual.
If the talks go through, HSBC would acquire 70% of Nedbank shares, which could reportedly amount to over $6 billion.
HSBC has reportedly been vying with Standard Chartered for the deal.
Also today, Energen Corporation (NYSE:
EGN) said its oil and gas exploration company, Energen Resources, has agreed to buy $185 million in assets in the Permian Basin's Wolfberry trend.
The acquisition from a private seller includes 19 producing wells, and 142 proved undeveloped locations.
For MarketNewsVideo.com, I'm Kristin Bianco.
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Merger News: HSBC in Talks to Acquire Nedbank, Energen Buys Permian Basin Assets
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