4 October 08:22
Berkshire Hathaway, led by Warren Buffett, has acquired the petrochemical division OxyChem from Occidental Petroleum for $9.7 billion, the largest transaction for the company in the last three years.
Ana Maria Eftene
International
Foto: Brandon Bell / Getty images / Profimedia
Of this amount, 6.5 billion will be used by Occidental to reduce debt. This move strengthens Berkshire's position in the energy sector, reflecting Buffett's confidence in Occidental, despite the challenges in the market.
Sources
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