Statoil Selling Out of VNG

Monday, December 08, 2003
Statoil is disposing of its 5.26 per cent holding in German company Verbundnetz Gas (VNG) to EWE AG, Germany, subject to the final approval of the transaction. The group has agreed a sale of these shares after reassessing its position in VNG in connection with the current restructuring of ownership in the company. Statoil's aim is to finalise the transaction by the end of the first quarter of 2004. As a gas merchant, VNG operates primarily in Germany's eastern states. Statoil acquired its stake in the company in 1991, when the German authorities were seeking to privatise it. That formed part of the process of selling off companies previously owned by the state in the former German Democratic Republic. VNG holds roughly 16 per cent of the German market for natural gas.
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

Kings Point Student Earns NMRA Scholarship

The National Marine Representatives Association (NMRA) recently awarded its second $500 scholarship to a student pursuing education in the marine industry and maritime trades.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Port Authority Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4942 sec (2 req/sec)