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18

French Total's Deerstalking

France's oil major Total said Tuesday announced it was going to buy Canadian heavy oil firm

France's oil major Total said Tuesday announced it was going to buy Canadian heavy oil firm Deer Creek Energy Limited for about $1.11 billion in cash.

Total said it had made a cash offer to acquire all of the common shares of Deer Creek or a total amount of about 1.35 billion Canadian dollars or about 1.1 billion US dollars.

The offer was unanimously approved by the board of directors of Deer Creek, who will recommend the offer to the group's shareholders, the French company said in a statement.