Noreco propose merger with Det norske

Norwegian Energy Co. (Noreco), has today proposed to Det norske oljeselskap ASA (Det norske) a combination of the two companies through a share-for-share merger.

Offshore staff

STAVANGER -- Norwegian Energy Co. (Noreco), has today proposed to Det norske oljeselskap ASA (Det norske) a combination of the two companies through a share-for-share merger. The proposed exchange ratio is 2.44918 Noreco shares per each Det norske share, implying a 52.5% ownership in the combined company for Det norske shareholders.

02/03/2009

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