Talisman's (TLM +6.4%) sale of 49% of its British North Sea business to Sinopec (SNP -1.9%) for...

|About: Talisman Energy Inc. (TLM)|By:, SA News Editor

Talisman's (TLM +6.4%) sale of 49% of its British North Sea business to Sinopec (SNP -1.9%) for $1.5B brings the proceeds from divestitures this year to $2.5B, and will enable Talisman to finance growth areas in its portfolio as well as to strengthen its balance sheet in the face of low natural gas prices in North America. Still, Talisman will also use $500M to repurchase stock.