Comment on Occidental Petroleum to take over Citigroup's Phibro investment unit

Occidental Petroleum to take over Citigroup's Phibro investment unit

The L.A.-based energy firm estimates a 'net investment' of $250 million in the deal, in which one company criticized for its executive compensation practices will obtain another. Occidental Petroleum Corp. said today it will buy embattled Citigroup Inc.'s commodities trading unit, which has drawn fire for its compensation practices.

 

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