Vår Energi Acquires BlueNord in $1.3 Billion Cash-and-Stock Deal
Norwegian oil and gas company Vår Energi has agreed to acquire rival firm BlueNord for Nkr12.84 billion ($1.33 billion) through a cash-and-stock deal, creating the largest independent European producer of oil and gas. The transaction will see existing shareholders retain 90.95% ownership while Eni maintains majority control with around 57.33%. BlueNord's Danish assets are expected to add significant production capacity.
Topics: Denmark energy production Norway oil & gas