(Recasts, updates with statement from Awilco)
OSLO (Thomson Financial) - Awilco Offshore ASA said it has received an
expression of interest from an unnamed third party, but that as yet it has not
allowed that party to carry out any due diligence.
"With reference to today's media reports, Awilco confirms that a third party
has expressed an interest in acquiring the company," it said.
"No agreement has been reached with the interest party, and Awilco has not
permitted the third party to carry out any due diligence."
Additionally, Awilco said, it is not aware that any applications for any
regulatory approval have been made.
"Awilco Offshore will disclose information about any possible transaction in
accordance with applicable requirements," it added.
Earlier, the Oslo Bors temporarily suspended the trade of Awilco shares
after the stock jumped 16 percent, a rise that analysts attributed to the
re-emergence of Chinese takeover rumours.
Earlier this month reports emerged that Awilco is being targeted by China
Oilfields Services Limited (COSL), the country's largest offshore exploration
supplier.
Trade of Awilco shares is to be resumed at 11:50 a.m.
Prior to the matching halt, shares in the firm were up 16.08 percent at
69.30 crowns.
alastair.reed@thomsonreuters.com
ar/slm/ar/sal/ar/cmr
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