Total to buy Maersk Oil for 6.4 billion euros

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Container shipping group Maersk is selling its oil and gas business to Total for 6.4 billion euros ($7.45 billion) in a deal which the French energy company said would strengthen its operations in the North Sea and boost earnings and cash flow.
For Danish company A.P. Moller Maersk (MAERSKb.CO), the sale of Maersk Oil, with reserves equivalent to around 1 billion barrels of oil, fits with a strategy of focusing on its core shipping and logistics businesses.
Under the terms of the deal, Maersk …
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