Nice and icy: Capricorn holds large stakes in Greenland's frontier play
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Cairn takes Dyas' Capricorn slice
UK-based producer Cairn Energy has entered into a heads of agreement with Dutch outfit Dyas to buy its 9.99% interest in its exploration subsidiary Capricorn, in a $95 million share deal.
Capricorn owns large oil blocks in Greenland.
Cairn will also shed a number of stakes in the Mediterranean.
Cairn said the $95 million for the Capricorn stake would be paid in Cairn shares.
Capricorn will also give Dyas 15% of its interests in Tunisia and Albania as part of the deal.