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DNO sells its holdings in Det norske for NOK 521 million


Published Aug 18, 2011
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DNO secures drilling rig for NCS-Spotlight

DNO International ASA (DNO) has sold all its 12,954,478 shares in Det norske oljeselskap ASA to Aker Capital AS, a wholly owned subsidiary of Aker ASA, at an agreed price of NOK 40.25 per share.

The number of shares represents an 11.66% ownership in Det norske oljeselskap ASA. As a result of this transaction, DNO no longer holds shares in Det norske oljeselskap ASA.

The proceeds are NOK 521 million. An accounting gain of around NOK 255 million from this transaction will be recorded in the third quarter of 2011.

Tags: DNO International



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