UK's Harbour Energy to enter Gulf of Mexico with $3.2 billion LLOG deal

Dec 22 (Reuters) - North Sea-focused Harbour Energy said on Monday it would buy deepwater oil and gas exploration and production company LLOG Exploration for $3.2 billion, marking its entry into the U.S. Gulf of Mexico.

The deal will consist of $2.7 billion in cash and $500 million in Harbour's voting ordinary shares, the company said in a statement.

On completion, LLOG's parent firm will own 11% of Harbour's listed voting ordinary shares, with current shareholders holding the remaining 89%, it added.

(Reporting by Ankita Bora in Bengaluru; Editing by Subhranshu Sahu)