Equinor Swaps Shares, $650 million in Cash with Lundin to Grow Johan Sverdrup Share

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 transaction was originally announced on July 7th of this year.

The first part, Sparebank1 Markets’ 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 AB’s Extraordinary General Meeting on 31 July 2019.

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The second part, Equinor Energy’s 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.

Source: www.worldoil.com

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