As part of a corporate restructuring, global maritime company BW Group has separated its oil and gas business BW Energy from its maritime operations. The restructuring is expected to be complete by 31 July 2024, with the Oslo Stock Exchange serving as takeover supervisory authority.
“Following the completion of the mandatory offer from BW Group and subsequent share acquisition of BW Energy shares from BW Offshore Limited, this restructuring is a technical step with no impact on the business of strategy of BW Energy,” said Andreas Sohmen-Pao, Chairman of BW Group and BW Energy Holdings.
BW Group currently owns upwards of 191 million shares in BW Energy. This is equivalent to 74.98% of the issued and outstanding shares and voting rights in the company. Following the restructuring, the BW Energy shares will be acquired by BW Energy Holdings Limited – a separate entity.
