Statoil Weighs Spinoff Of Retail Fuel Division

Law360, New York (February 3, 2010, 11:53 AM EST) -- Norwegian oil and gas company Statoil ASA has announced that it may revamp ownership of its retail business, including the possible listing of the energy and retail division on a stock exchange as early as the fourth quarter of 2010.

The potential spinoff would involve Statoil's 12,000 E&R employees and more than 2,300 gas stations in eight countries, and it includes the company's lubricant and aviation and marine fuel supply businesses, according to a statement from the company Wednesday.

“A new ownership structure will help further...
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