April 4, 2018 / 6:16 AM / 17 days ago

BRIEF-‍DNO acquires 15 percent of Faroe Petroleum

April 4 (Reuters) - Dno Asa:

* ‍DNO ASA, NORWEGIAN OIL AND GAS OPERATOR, TODAY ANNOUNCED THAT IT HAS AGREED TO ACQUIRE 15.37 PERCENT OF SHARE CAPITAL OF FAROE PETROLEUM PLC FROM DELEK GROUP LTD​

* ‍ACQUISITION COVERS ALL FAROE PETROLEUM ORDINARY SHARES HELD BY DELEK, TOTALING 56,355,825, AT A PRICE OF GBP 1.25 PER SHARE​

* DNO HAS DECIDED TO BUILD A LONG TERM STRATEGIC SHAREHOLDING IN FAROE PETROLEUM AND TO SUPPORT FAROE PETROLEUM MANAGEMENT’S GROWTH FOCUSED NORTH SEA STRATEGY​

* ‍LAMBERT ENERGY ADVISORY LTD AND PARETO SECURITIES HAVE ACTED AS ADVISORS TO DNO IN CONNECTION WITH ACQUISITION​ Source text for Eikon: Further company coverage: (Reporting By Joachim Dagenborg)

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