Occidental recently announced that a wholly owned subsidiary has entered into a definitive purchase agreement to acquire all the outstanding equity of Carbon Engineering Ltd. for total cash consideration of approximately $1.1 billion, to be made in three approximately equivalent annual payments, with the first at closing. This transaction is expected to close before the end of 2023, subject to Canadian court reviews, Canadian and U.S. regulatory approvals and other customary closing conditions. Occidental has been working with Carbon Engineering on direct air capture (DAC) deployment since 2019. Acquiring Carbon…
Read MoreOccidental Enters into Agreement to Acquire Direct Air Capture Technology Innovator Carbon Engineering
