Imperial Oil to pay C$1.55 bln for 50 pct stake in Celtic

Wed Nov 28, 2012 8:00am EST
 
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Nov 28 (Reuters) - Imperial Oil Ltd, Canada's second-largest integrated oil company, said it will invest C$1.55 billion for a 50 percent stake in Celtic Exploration Ltd after Celtic is taken over by parent Exxon Mobil Corp .

Exxon Mobil, which owns 69.6 percent of Imperial, said in October that it would buy Celtic through its Canadian subsidiary ExxonMobil Canada for C$2.6 billion.