November 28, 2012 / 1:04 PM / in 5 years

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

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.

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