Norway's HitecVision said on Friday it has sold a 6.3% stake in oil and gas group Vaar Energi VAR.OL for 4.56 billion Norwegian crowns ($423 million), reducing its ownership in the company to 14.4%.
The sale at 29 crowns per share came at a 9.4% discount to Thursday's closing price of 32 Norwegian crowns.
Italian energy group Eni ENI.MI, Vaar's majority owner, separately said it did not plan to reduce its 63.04% stake, and that the HitecVision sale would increase Vaar's share liquidity, making it more attractive to international investors.
($1 = 10.7714 Norwegian crowns)
(Reuters - Reporting by Terje Solsvik, editing by Louise Rasmussen)