Norwegian Energy (Noreco) is selling its stake in the South Arne oilfield, in the Danish sector of the North Sea, for $200 million, Reuters reports. Noreco agreed to sell its 6.56% stake to field operator Hess. The company also expected to net a $50 million profit from the sale after tax. RBC Capital Markets has been appointed to serve as adviser to Noreco on the deal, which is subject to customary approval by Danish authorities.
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