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Anadarko Petroleum Corporation announces settlement of tronox adversary proceeding

Thursday, 3 Apr 2014 02:20pm EDT 

Anadarko Petroleum Corporation:Enters into agreement with plaintiffs in Tronox Adversary Proceeding to resolve all claims against Kerr-McGee Corporation and certain of subsidiaries and affiliates, which stemmed from alleged actions by Kerr-McGee prior to acquisition by Anadarko in 2006.Kerr-McGee is wholly owned subsidiary of Anadarko.In exchange for complete release of all claims asserted against Kerr-McGee, Anadarko has agreed to pay total of $5.15 bln to plaintiffs, which represents a principal sum of about $3.98 bln and 6-percent interest thereon from filing of complaint in May 2009.