Norwegian Independents Aker and Detnor Unveil Plans for Tie-Up

摘要

Norwegian upstream duo Det norske oljeselskap (Detnor) and Aker Exploration unveiled Tuesday plans to merge in a growth-driven deal designed to create the second biggest player on the Norwegian continental shelf in terms of licenses and operatorship. The bigger combo will keep Detnor's name and have a market capitalization of over 4 billion Norwegian kroner ($682 million), with Detnor holding 82% of the combined value of the listed shares at Monday's close and Aker Exploration shareholders 18%.