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Arntzen de Besche has assisted E.ON in sale of their Norwegian operation for USD 1.6 billion

It was announced on 14 October 2015 that E.ON has signed an agreement with DEA Norge AS regarding the sale of all issued and outstanding shares in E.ON E&P Norge AS. The transaction is the largest one on the Norwegian Continental Shelf in 2015.

E.ON E&P Norge AS has in total 43 production licenses at the Norwegian Continental Shelf, including participating interests in the producing fields Skarv (28.1 %), Njord (30 %) and Hyme (17.5 %), development projects and discoveries, including Snilehorn, Snadd and Fogelberg, and also a wide portfolio of exploration licenses on the Norwegian Continental Shelf. The transaction, with a total value of USD 1.6 billion, is i.a. subject to customary regulatory approvals.

E.ON is one of the largest energy companies in the world, and is headquartered in Düsseldorf.

DEA Norge AS is a subsidiary of DEA Deutsche Erdoel AG, one of the largest oil and gas companies in the world.

The team from Arntzen de Besche has been led by partner Anders Rødland. The core team has otherwise consisted of partners Rune Tjomsås Andersen, Anders Heieren and Stein Ove Solberg and senior lawyers Cecilie O. Lindseth and Tonje P. Gormley.

The press release from E.ON may be found here and the press release from DEA may be found here

For further information about the transaction, see press coverage by ReutersBloomberg og Financial Times.

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