Oslo-listed BW Offshore, a specialist in floating production systems for the oil and gas sector, is leading a move to delist its floating wind arm BW Ideol after claiming there are better opportunities for a privately held company in the sector.

In its quarterly earnings statement released today (Thursday), BW Offshore revealed that it had led a group holding nearly 85% of the shares in BW Ideol in making a voluntary offer to acquire up the remaining equity, with with the intention of taking the company private and delisting from Euronext Growth Oslo.