BW Offshore has agreed with BW Group to sell all of its shares in BW Energy.
BW Offshore will sell 58.1m (22.5%) shares in the Oslo-listed company for NOK 32 per share, resulting in total proceeds of NOK 1.86bn or around $176m.
The decision was taken by the independent directors of BW Offshore after assessing the company’s strategy and other relevant factors, including external valuation advice, according to a statement.
