Centrica plc has concluded an agreement with Bayerngas Norge AS concerning a merger of the European oil and gas activities in the North Sea.

Centrica and Bayerngas have agreed to merge their oil and gas activities in the North Sea. The merger will result in one of the largest independent companies within exploration and production of oil and gas in Northwestern Europe with activities in Great Britain, the Netherlands, Norway and Denmark. Centrica will own 69 %, and Stadtwerke München will own the remaining 31 %. The transaction is expected to be completed in the 4th quarter of 2017 after usual approval from the authorities.

Horten has assisted Stadtwerke München, which owns Bayerngas Norge, with all aspects of the Danish oil fields.


contacts

Søren Hornbæk Svendsen

Partner

Thomas Francis Beckett

Partner

Christian Tullberg

Partner