Norwegian state increases stake in StatoilHydro
The Norwegian Ministry of Petroluem and Energy has over the last week bougth 8,029 million shares in Norwegian oil and gas major StatoilHydro, bringing the state stake in the company towards 67 percent.
According to newspaper Dagens Næringsliv, the Norwegian state now owns a total of 2.048.187.259 shares in the company, Norway’s leading energy company. With the acquisition, the government is about to fulfil its objective to control 67 percent of the company. Until recently, the state controlled 62,5 percent of StatoilHydro. The acquisition comes at a favourable time for the Norwegian government. Over the last three months the index of the company has dropped with more than 20 percent.
