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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.0671 sec (15 req/sec)