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Warburg Pincus Hires Carnegie to Sell 10% Stake in EMGS

Jan. 11 (Bloomberg) -- Warburg Pincus hired Carnegie ASA as bookrunner to explore selling as much as a 10 percent stake in Electromagnetic Geoservices ASA.

Warburg funds will seek to sell 15 million to 20 million shares, or 7.6 percent to 10.2 percent, of the outstanding stock in the company, according to a statement issued today. The sale will be done through an accelerated bookbuilding process starting today.

The company’s shares rose 0.63 percent to 16.1 kroner as of 5:30 p.m. today in Oslo trading, valuing the company at 3.16 billion kroner ($522 million).

The Warburg Pincus funds own 21.3 percent of the company.

To contact the reporter on this story: Jonas Bergman in Oslo at jbergman@bloomberg.net

To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net

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