Extract from M&A Insights

The below story was originally featured in our daily M&A Insights Newsletter. Selected stories, including this one, are posted to our website with some weeks of delay.
Hitecvision portfolio company acquires British oil company for NOK 3.3bn (DN)
September 21, 2018

Hitecvision owned Verus Petroleum has signed a Sale & Purchase Agreement (SPA) for the acquisition of Cieco Exploration & Production (UK) Limited, a wholly owned subsidiary of ITOCHU Corporation. The purchase consideration is NOK 3.3bn. Since oil prices fell in 2014, Hitecvision has invested a total of NOK 40bn in oil companies. Over the next four years, the plan is to invest more than NOK 80bn so that total investments will be over NOK 120bn for the three oil companies in Hitecvision's portfolio.

ⓘ This story was originally featured in our daily M&A Insights newsletter.
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