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Det Norske buys Marathon’s Norwegian assets for $2.7 bn
OSLO, Norway (Bloomberg) -- Det Norske Oljeselskap ASA, controlled by billionaire Kjell Inge Roekke, will buy Marathon Oil Corp.’s Norwegian business for $2.7 billion in a transformational deal that will boost output 14-fold and settle questions on funding. Det Norske, 50% owned by Roekke’s Aker ASA, would add production of about 60,000 boed in 2014, more than 13 times last year’s output, CEO Karl Johnny Hersvik said today, June 2, in a presentation. It will pay $2.1 billion in cash excluding debt and other items.
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