July 17, 2017 / 7:17 AM / 5 months ago

Centrica forms JV with SWM to strengthen Scandinavian presence

July 17 (Reuters) - Centrica Plc said on Monday it had agreed to combine its European exploration and production units with Norway’s Bayerngas Norge AS to form a joint venture, in which it would have a 69 percent ownership.

The joint venture will comprise Centrica’s assets in the UK, Netherlands and Norway and Bayerngas Norge’s assets in the UK, Norway and Denmark.

German utility Stadtwerke Munchen GmbH (SWM) and Bayerngas GmbH are shareholders in Bayerngas Norge. (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Gopakumar Warrier)

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