Equinor: sells 16% stake in Sweden's Lundin
(CercleFinance.com) - Equinor is selling a stake of about 16% in Swedish oil company Lundin Petroleum, the Norwegian energy giant said on Monday.
The group said it has agreed to divest 54.5 million shares for a direct interest of 2.6% in the giant Johan Sverdrup oil field development, and around 650 million dollars in cash.
Under the terms of the agreement, Equinor will sell its shares at a price of 266.4 Swedish crowns per share in a deal worth around 1.6 billion dollars.
As a reminder, Equinor announced its investment in Lundin in 2016 at an average price of 121 crowns per share.
Following completion of the transaction, Equinor will have a 42.6% stake in the Johan Sverdrup field and own a 4.9% interest in Lundin.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group said it has agreed to divest 54.5 million shares for a direct interest of 2.6% in the giant Johan Sverdrup oil field development, and around 650 million dollars in cash.
Under the terms of the agreement, Equinor will sell its shares at a price of 266.4 Swedish crowns per share in a deal worth around 1.6 billion dollars.
As a reminder, Equinor announced its investment in Lundin in 2016 at an average price of 121 crowns per share.
Following completion of the transaction, Equinor will have a 42.6% stake in the Johan Sverdrup field and own a 4.9% interest in Lundin.
Copyright (c) 2019 CercleFinance.com. All rights reserved.