Statoil's energy and retail business includes service stations in eight countries.
(Photo: Trond Isaksen)
Further to the announcement made on the 3rd of February 2010, Statoil's Board of Directors has approved the proposal to create a stand-alone Energy & Retail (E&R) business through an initial public offering (IPO) on the Oslo Stock Exchange. The IPO will take place at the earliest in the fourth quarter of 2010 or at a time when the capital market is deemed favourable for such an offering.
Statoil intends to remain a majority shareholder of E&R at the time of the initial public offering and listing. The size and time horizon of Statoil's future ownership in E&R will be tailored to support and develop company value both for E&R and for the Statoil Group.
Further information from:
Investor relations:
Lars Troen Sørensen, senior vice president investor relations,
+ 47 90 64 91 44 (mobile)
Press:
Ola Morten Aanestad, vice president for media relations
tel +47 480 80 212 (mobile) E-mail: oaan@statoil.com
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This Stock Exchange Notice does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities of E&R have not been, and are not intended to be, registered under the U.S. Securities Act of 1933.