Private equity firm HitecVision plans to sell its Norwegian oil and gas producer business Sval Energi in a deal valued at up to $1 billion including debt, four sources said.
HitecVision established Sval in 2019 and the company has since grown through a series of acquisitions, including holdings from Equinor and Suncor.
Sval produces around 70,000 barrels of oil equivalent per day from stakes in 15 Norwegian fields, and has four development projects, according to its website.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
The sale is expected to raise several hundred million dollars which, together with its debt of around $700 million, values Sval at up to $1 billion, according to two sources familiar with the sale process.
Source: MarketScreener
Can’t stop reading? Read more
Victory Capital raises $8.6bn Janus Henderson bid as Trian and General Catalyst deal faces challenge
Victory Capital raises $8.6bn Janus Henderson bid as Trian and General Catalyst deal faces...
TPG forms One Aged Care to capture ageing care demand in Singapore and Malaysia
TPG forms One Aged Care to capture ageing care demand in Singapore and Malaysia TPG has launched a...
Advent and Cinven explore €25bn exit of TK Elevator as Kone enters takeover talks
Advent and Cinven explore €25bn exit of TK Elevator as Kone enters takeover talks Advent and...