Total is strengthening the sands.

Keywords: sands, redemption, shareholders, CANADA, Yves -Louis Darricarrère, Total.

The Canadian subsidiary of Total buys developer of oil sands UTS Energy Corp. . for 1.15 billion Canadian dollars (about 866 million euros ).
A little over five months after launching a takeover bid ( OPA ) on UTS , Total , through its Canadian subsidiary, Total E & P Canada has finally acquired the developer of oil sands in Canada, including its core asset , With the project mininier Hilles ( Alberta ) . Total : 1.15 billion Canadian dollars, or 866 million euros . "The asset quality will enable us to consolidate and restructure our portfolio of assets in Canada's oil sands , "said Yves-Louis Darricarrère, president of Exploration & Production quoted in a press.
"The exploitation of tar sands - a mixture of sand and bitumen - is more expensive than crude. This makes sense if you think that oil prices rise again , "said one analyst.

Consolidation portfolio:
When Total launched its takeover bid for UTS, his spokesman said: "To acquire interest in UTS Fort Hills project fits with the strategy by enabling us to acquire at fair prices and a relatively strong position with attractive an oil sands project and a significant shareholder competent operational , " says Floren .
The acquisition of UTS will consolidate the existing portfolio of Total in the region that includes the Joslyn Project and Northern Lights located near the Fort Hills project and which Total holds 74% and 60%.
Analysts at Morgan Stanley , this approach shows that Total is interested in trading in relatively small segment of the oil sands rather than the purchase of large groups, even if the rumor has expressed interest in the Canadian Nexen whose capitalization approach eight billion dollars.

Risk premium of 46 % compared to last closing:
Through this transaction, shareholders will receive 3.08 SWU Canadian dollars per share and a stake in the merged entity to exploration and development after the acquisition , SilverBirch Energy Corp. , said UTS a statement. "This transaction allows shareholders to realize immediate UTS bonus cash on the current course of action while participating in the SWU significant growth potential of SilverBirch , "said John Watson , president of UTS . The cash offer represents for shareholders of UTS at a premium of 46 % compared to Tuesday's closing price of 2.11 Canadian dollars .
At the Paris Bourse, Total shares lost 1.76 % to 35.99 euros in a market that declined by 1.62 %, to 12 hours .