The shares, which account for 12 percent of Abbot, were issued by Abbot to Blystad as part of the acquisition, a spokesman for Abbot said.
"It's a very straightforward sale," the spokesman added. "Blystad sold the shares because he wanted to invest in other businesses."
Blystad's shares in Abbot were held by Spencer Energy AS, in which he holds a controlling stake. The shares were placed in the market Wednesday morning by Goldman Sachs.
At 9:15 a.m. Wednesday in London, Abbot shares were down 8-1/4 at 287-1/2 pence.
Copyright AFX News Limited 2007. All rights reserved.
Most Popular Articles