KASSEL, Germany -- Wintershall Holding Aktiengesellschaft plans to acquire Revus Energy by making a voluntary offer to acquire all outstanding shares of Revus for $15.80 per share through its wholly owned subsidiary Wintershall Norwegen Explorations-und Produktions-GmbH. The purchase price of the proposed transaction is approximately $731 million.
"With its high quality development and exploration portfolio, Revus strongly improves Wintershall's asset base in the North Sea, especially in Norway," says Reinier Zwitserloot, chairman of Wintershall's board of executive directors. "The activities of Revus lie in a politically and economically stable environment and geographically balance Wintershall's portfolio. We are impressed by the strong geological know-how of Revus's employees and we will retain these strengths to ensure further growth."
Revus's board of directors has recommended unanimously that its shareholders accept the offer. The formal recommendation will be made public through the Oslo Stock Exchange in accordance with the Norwegian Securities Trading Act.