BW Group, a global maritime company, has initiated the separation of its oil and gas arm, BW Energy, from its maritime operations. The restructuring, slated for completion by July 31, 2024, will be overseen by the Oslo Stock Exchange.
Andreas Sohmen-Pao, Chairman of BW Group and BW Energy Holdings, clarified, “Following the mandatory offer from BW Group and subsequent share acquisition of BW Energy shares from BW Offshore Limited, this restructuring is a procedural step with no impact on BW Energy’s business or strategy.”
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BW Group presently holds over 191 million shares in BW Energy, representing 74.98% of the issued and outstanding shares and voting rights. Post-restructuring, these BW Energy shares will be transferred to BW Energy Holdings Limited, operating as a distinct entity.
