One-Page Deal Sheet
RWE Lets Go of Interest in Edvard Grieg Development
OMV Group RWE DEA
Announced Date
October 16,2012
Effective Date
January 01,2012
Close Date
December 19,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
323
Asset/Basin:
{"North Sea"}
Transaction Details: Subscribe to see
RWE AG, through its subsidiary RWE Dea Norge AS, reached an agreement on the sale of its 20% licence interest in the “Edvard Grieg” development in Norway to OMV (Norge) AS, a subsidiary of OMV AG, for a cash purchase price of € 247.9 million as per effective date 1 January 2012 plus a contingent payment of up to € 35 million based on achievement of certain operational milestones.
The disposal of RWE Dea’s stake in “Edvard Grieg” (PL338) represents further progress to create significant financial headroom for RWE.
Dr. Leonhard Birnbaum, Board Member of RWE, commented on the transaction: "The…
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