M&A Deal Summary

Noreco Acquires Denerco Oil A/S

On May 11, 2006, Noreco acquired oil/gas exploration company Denerco Oil A/S from Maj Invest Equity for 2.2B DKK

Acquisition Highlights
  • This is Noreco’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Noreco’s 0th largest (disclosed) transaction.
  • This is Noreco’s 1st transaction in Denmark.

M&A Deal Summary
Date 2006-05-11
Target Denerco Oil A/S
Sector Oil/Gas Exploration
Buyer(s) Noreco
Sellers(s) Maj Invest Equity
Deal Type Add-on Acquisition
Deal Value 2.2B DKK

Target

Denerco Oil A/S

Holte, Denmark
Denerco Oil A/S is a privately owned upstream Danish oil and gas company headquartered in Copenhagen and with activities in the Danish, German, Dutch and UK sectors of the North Sea as well as onshore Oman.

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Buyer(S) 1

Buyer

Noreco

Stavanger, Norway
Category Company
Founded 2005
Sector Oil/Gas Exploration
DESCRIPTION

Norwegian Energy Company ASA is an independent oil and gas company with activities in Norway, Denmark and the United Kingdom. Noreco’s main focus is to explore for oil and gas, and the company is among the largest holders of exploration licenses in Norway.In addition, the company has ownership in eight producing oil fields and more than a dozen oil and gas discoveries.

DEAL STATS #
Overall 1 of 3
Sector (Oil/Gas Exploration) 1 of 3
Type (Add-on Acquisition) 1 of 2
Country (Denmark) 1 of 2
Year (2006) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-23 Altinex ASA

Stavanger, Norway

Altinex ASA engages in exploration and production of oil and gas with interests in the North Sea area.

Buy -

Seller(S) 1

SELLER

Maj Invest Equity

Copenhagen, Denmark

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 590M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Maj Invest Equity A/S (formerly LD Invest Equity) is the private equity investment arm of financial management firm Maj Invest Holding A/S (formerly LD Invest A/S). Maj invests in small-cap Danish businesses generating sales of EUR 13 to 130 million with proven business models and established market positions. Maj Invest Equity was formed in 2005 and is based in Copenhagen.

DEAL STATS #
Overall 1 of 50
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 24
Country (Denmark) 1 of 50
Year (2006) 1 of 3
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 J. Hvidtved Larsen A/S

Silkeborg, Denmark

J. Hvidtved Larsen A/S manufactures advanced high-quality sewer cleaning equipment and has subsidiaries in England, Sweden, Australia and the USA. With focus on user-friendliness, fuel efficiency, design and technology for water recycling, among other things, the product range comprises both normal sewer cleaning vehicles and advanced sludge and vacuum units.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 Color Print A/S

Vadum, Denmark

Color Print A/S is a specialist printing company in Scandinavia. Headquartered in Denmark, Color Print has grown steadily since its foundation and now operates in the commercial and advertising print market, using heatset and sheet fed printing processes.

Sell -
Mergr

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