Canada will create an oil company worth 43 billion dollars.

The Canadian oil company Suncor Energy has agreed to acquire its rival Petro-Canada, reported in the official press release, Suncor Energy. Approximate amount of the transaction amount to 17 billion Canadian dollars (14 billion U.S. dollars), with a total capitalization of a single company amounted to more than 43 billion dollars, it is noted on the website The Canadian Press. For comparison, the capitalization of Rosneft, the largest oil corporation in Russia, is slightly less than $ 50 billion.
The new company will operate under the brand name of Suncor. As a result of the merger of the assets will be the biggest party the energy market in Canada. According to Bloomberg, the deal between Suncor Energy and Petro-Canada has become the second largest in the world oil market since January 2007.
The exact amount of the transaction depends on the value of the company's shares on the market because it will be paid by it in securities. Under the agreement, holders of shares of Petro-Canada will receive 1.28 shares of combined company. In monetary terms, this 25 per cent more than the average value of Petro-Canada for the past 30 days.
Suncor Energy is the world's second producer of oil from oil sands. In January the company announced the first in the history of quarterly losses. Acquisition of Petro-Canada, one of the largest oil corporations of Canada, Suncor Energy will help reduce costs and reach new markets in North Africa and Latin America.