FMC Technologies buys 10.3 pct in Norway's Roxar
OSLO, Nov 20 (Reuters) - American oilfield services company FMC Technologies (FTI.N) has bought 10.3 percent in Norway's offshore technology firm Roxar ROX.OL through its subsidiary FMC Kongsberg, FMC said on Thursday.
FMC said Roxar is a strategic supplier to FMC Technologies of components for subsea and other applications and that the transaction would strengthen the relationship between the companies.
Last week, Norwegian conglomerate Kongsberg Gruppen (KOG.OL) upped its stake in Roxar to 15.5 from 4.0 percent. The company said it wanted to grow its oil and gas business and expressed a desire to enter into a closer cooperation with Roxar.
Kongsberg Gruppen said it had no intention to buy additional shares in Roxar.
Roxar added that after this it will hire financial advisers to evaluate its strategic options.
Shares in Roxar rose 29.6 percent to 3.50 crowns by 0914 GMT and was the third most traded share on the Oslo bourse .OSEBX which was down 2.02 percent. (Reporting by Aasa Christine Stoltz; Editing by Mike Nesbit)
