Equinor completes sale of shares in Lundin Petroleum and acquisition of further direct interest in Johan Sverdrup field

Equinor completes sale of shares in Lundin Petroleum and acquisition of further direct interest in Johan Sverdrup field

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 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.

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.

Published: 30-08-2019