Marubeni acquires Noreco's interest in Enoch and Oselvar
On 29 September 2010, Noreco announced the sale of its 21.8% share in Enoch - Norway, and its 15% share in Oselvar, to Marubeni. The deal also includes corresponding shares in licences PL274 and PL274CS for Oselvar and PL048D for Enoch - Norway. The consideration for the deal is US$43 million. The deal is effective from 1 January 2010, and includes a settlement for 2010 of around US$33 million net to Noreco, mainly representing costs incurred on Oselvar.The deal is subject to approval ...