The Norwegian-based oil company DNO has placed a bid to acquire all outstanding shares in Faroe Petroleum. DNO already owns 28.22 % of the share capital in Faroe Petroleum. The offer value is approx. GBP 444m which values Faroe Petroleum at approx. GBP 608m. Faroe Petroleum reported a turnover of GBP 141m and EBITDA of GBP 76m the LTM, corresponding to an EV/EBITDA multiple of 8.04x.