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Statoil may eye overseas acquisitions: Bloomberg
January 10, 2014 / 6:34 AM / in 4 years

Statoil may eye overseas acquisitions: Bloomberg

OSLO, Jan 10 (Reuters) - State-controlled Norwegian energy firm Statoil is studying overseas acquisitions to reduce its focus on Norway and Tullow Oil is among targets it is studying, Bloomberg reported late on Thursday, quoting unnamed company sources.

The firm is considering deals involving payment in shares that could dilute the government’s shareholding, as the new Conservative-led government is seeking to cut the state’s stake from 67 percent to 51 percent, it said.

It added that in the past Statoil has looked at potential deals with firms like Anadarko Petroleum Corp., EOG Resources Inc. and BG Group Plc, but a deal with a firm so large would make it difficult for the government to keep a majority stake.

Statoil declined to comment.

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