Complex sentence: In December 18 2006 Statoil agreed to buy Norsk Hydro, a Norwegian conglomerate, oil and gas activities for around NOK 200 billion in shares, and the deal is expected to close in the third quarter of 2007.
Split into simpler sentences: In December 18 2006 Statoil agreed to merger with Norsk Hydro, a Norwegian conglomerate with it's oil and gas activities. And the deal is expected to close in the third quarter of 2007.