Deals
ConocoPhillips, Dong Said to Sell Stakes in Norway Gas Pipelines
- Private-equity backed CapeOmega said to be buyer of stakes
- Gas pipelines subject of lawsuit after government cut tariffs
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ConocoPhillips and Dong Energy A/S agreed to sell their stakes in Gassled, Norway’s offshore gas-pipeline network, to CapeOmega AS, an oil company backed by Norwegian private-equity firm HitecVision AS, a person familiar with the matter said.
Conoco owns a 1.68 percent stake in Gassled and Dong holds 0.98 percent, according to network operator Gassco AS’s website. The two companies agreed to sell this summer and both deals still need approval from authorities before they can be closed, said the person, who asked not to be identified because the information is private. The person didn’t know the price of the transactions.