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DNO lays siege to Faroe Petroleum

DNO lays siege to Faroe Petroleum

Until April, Faroe Petroleum (FPM) had little to do with DNO (Nor:DNO) beyond the oil and gas groups’ shared interest in two North Sea exploration fields. Almost five months on from DNO's minority acquisition, and the Aim 100 stalwart is readying for a fight. Last week, after DNO asked for its executive chairman, Bijan Mossavar-Rahmani, to join Faroe’s board, Faroe warned shareholders that the Oslo-headquartered group could be about to launch a takeover of the business without paying a sufficient control premium.

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