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Equinor Completes Sale of Shares in Lundin Petroleum

Source: www.gulfoilandgas.com 8/30/2019, Location: Europe

Equinor and Lundin have completed both parts of the transaction announced on 7 July 2019. This follows all transaction conditions being met, including government and regulator approvals.

The overall result is that Equinor has divested a 16 percent shareholding in Lundin for a direct interest of 2.6 percent in the Johan Sverdrup field and a cash consideration of around USD 650 million.

The first part, Sparebank1 Marketsí acquisition of around 54.5 million shares in Lundin Petroleum AB from Equinor ASA, concluded on 5 August and followed the approval of the transaction in Lundin Petroleum ABís Extraordinary General Meeting on 31 July 2019.

The second part, Equinor Energyís acquisition of a 2.6 percent interest in the Johan Sverdrup field from Lundin Norway AS, concluded on 30 August. The effective date of this acquisition is 1 January 2019.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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