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Apache Corp Plans To Sell $4 Billion In Assets By Year-End-Reuters


Thursday, 9 May 2013 01:33pm EDT 

Reuters reported that Apache Corp said it plans to sell $4 billion in assets, using proceeds to shore up its balance sheet and share price through debt reduction and a big share buy-back. Houston-based Apache said it planned to use about $2 billion from the sale of non-core assets to reduce debt, with the other $2 billion earmarked for the repurchase of up to 30 million shares, or about 7.5% of Apache's outstanding shares. 

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