Wintershall offers $740 million for Ruvus

Nov. 6, 2008
Germany's Wintershall Holding has offered $740 million to buy Norway's Revus Energy, and the Revus board unanimously recommended that shareholders accept the offer.

By OGJ editors
HOUSTON, Nov. 6 -- Wintershall Holding AG of Germany has offered $740 million to buy Revus Energy ASA of Norway, and the Revus board unanimously recommended that shareholders accept the offer.

The Revus acquisition represents "an excellent strategic fit" with Wintershall's offshore activities, said Wintershall, a wholly owned subsidiary of BASF SE in Ludwigshafen.

Revus has exploration and production in the mature areas of the Norwegian and UK continental shelf.