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Statoil said to examine deals as government loosens control

Jan. 09, 2014 12:10 PM ETEquinor ASA (EQNR) StockEQNRBy: Carl Surran, SA News Editor1 Comment
  • Statoil (STO -0.5%) is studying overseas acquisitions that would allow it to diversify away from Norway and perhaps vault it toward supermajor status among global oil producers, Bloomberg reports.
  • Analysts say STO could unlock billions for a large-scale international acquisition if the Norwegian state were to go ahead with proposals to reduce its current 67% holding in the company.
  • Diluting the government stake to 51% could allow the issuance of more than $22B in new shares for use in a takeover, at current prices, the report says; STO also has the lowest ratio of net debt to EBITDA among integrated European energy producers, providing plenty of financing room.

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