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Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 7 pages

Country: Norway

Sector: Oil and Gas (Energy)
Statoil has Divested its 24.1% Stake in Gassled in Favor of Solveig Gas Norway as Part of its Portfolio Restructuring - Deal Analysis from GlobalData

Summary

Solveig Gas Norway AS, (Solveig Gas) completed the acquisition of a 24.1% stake in Gassled, an owner of gas transportation grid and processing facilities, from Statoil ASA (Statoil) for a purchase consideration of NOK17.35 billion ($3.22 billion). Following the acquisition, Statoil owns a 5% stake in Gassled.

On April 12, 2011, Statoil declared its plan to sell certain stakes in Gassled. On June 6, 2011, Statoil announced the agreement to divest 24.1% of its stake in Gassled to Solveig Gas for a purchase consideration of NOK17.35 billion ($3.22 billion).

Morgan Stanley acted as a financial advisor to Statoil in the transaction. Bank of America-Merrill Lynch acted as a financial advisor and Wiersholm, Mellbye & Bech acted as legal advisor to Solveig Gas.

Scope

- Rationale behind Solveig Gas acquiring stake in Gassled
- Key issues for Statoil for divesting its stake in Gassled
- Geography covered - Norway

Reasons to buy

- Develop a sound understanding of Statoil's divestment strategy
- Issues for Statoil leading to divestment of Gassled
- Rationale behind Solveig Gas's plan to acquire Gassled

Keywords

Gassled, Norwegian Continental Shelf, Technical Service Provider, ExxonMobil, Total, Shell
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