News, Oil & Gas

Det norske acquires Marathon Oil Norge AS

Det norske oljeselskap ASA (“Det norske”) has entered into an agreement to acquire Marathon Oil Norge AS (“Marathon Norway”) for a cash consideration of USD 2.1 billion (NOK 12.6 billion).

The cash consideration is based on a gross asset value of USD 2.7 billion and is adjusted for debt, net working capital and interest on the net purchase price. The effective date of the transaction is 1 January 2014 and it is expected to close in the fourth quarter 2014, subject to regulatory approvals.

 

To read the full press release, please visit Det Norske Oljeselskap ASA here.