Talisman Sells Assets

Published: Wednesday, 01/17/2007 12:00 am EST

Calgary-based oil giant Talisman Energy Inc. is selling $550 million (US) worth of its North Sea assets to Abu Dhabi National Energy Co. The sale was announced yesterday and is meant to streamline the company's diverse collection of oil and natural gas properties. Cash from the sale will be used to buy back the company's shares, the Globe and Mail reported.

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