One-Page Deal Sheet
Marathon to Drop Norway Segment in Multi-Billion Dollar Mega Deal
Det Norske Marathon Oil Corp
Announced Date
June 02,2014
Effective Date
January 01,2014
Close Date
October 15,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
2700
Asset/Basin:
{"North Sea","Norwegian Continental Shelf"}
Transaction Details: Subscribe to see
Marathon Oil Corporation has entered into a definitive agreement with Det norske oljeselskap ASA under which Det norske will purchase Marathon Oil's wholly owned subsidiary, Marathon Oil Norge AS, for a total transaction value of $2.7 billion.
After adjustment for debt, net working capital and interest on the net purchase price, Marathon Oil expects net proceeds of approximately $2.1 billion at closing. The effective date of the transaction is Jan. 1, 2014.
The companies expect to close the transaction, subject to the necessary government and regulatory approvals, in the fourth quarter of…