October 16, 2015 - Assignment

Svenska Petroleum Exploration divests its Norwegian subsidiary to Det norske oljeselskap ASA

Svenska Petroleum Exploration AB has divested its Norwegian subsidiary Svenska Petroleum Exploration AS to Det norske oljeselskap ASA, listed on the Oslo Stock Exchange, for a cash consideration of USD 75 million (on a cash and debt free basis).

Svenska Petroleum Exploration AS is an oil and gas company holding 13 licenses in the North Sea and four exploration licenses in the Norwegian Sea. The company has 15 employees.

Svenska Petroleum Exploration AB is a privately held Swedish company engaged in offshore oil and gas exploration and production. The exploration activities extend across the Baltic Sea, Norway and West Africa. The production facility is located in Ivory Coast.

Svenska Petroleum Exploration AB was advised by Mannheimer Swartling in the transaction. The firm’s team included Johan Ljungberg, Olof Stenström, Emma Noreklint and Magnus Prick.