Vår Energi signs deal with BlueNord

21 Jul Vår Energi signs deal with BlueNord

(Oilandgaspress) 21/07/26, – Vår Energi ASA and BlueNord ASA have agreed on a combination of its businesses, making Vår Energi the largest independent producer of oil and gas in Europe. The transaction adds high-quality and long-life assets on the Danish Continental Shelf (“DCS”) with stable long-term production and limited near term investments, supporting resilient cash generation, strengthening Vår Energi’s long-term dividend capacity and the position as a reliable and secure supplier of energy to Europe.

The boards of directors of both Vår Energi and BlueNord have approved the proposed transaction and consider it to be in the best interests of each company and their respective shareholders.

The transaction will be executed by Vår Energi establishing a new subsidiary which will be merged with BlueNord ASA. BlueNord shareholders will as a merger consideration, receive 248.4 million new Vår Energi shares and NOK 1,964 million (USD 204 million) in cash; equating to 9.7153 shares in Vår Energi and NOK 76.83 in cash as consideration for each share held in BlueNord.

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