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Equinor Completes Increase of Interest in Johan Sverdrup

  • Business & Finance

Equinor has completed the sale of shares in Lundin Petroleum and acquisition of further direct interest in Johan Sverdrup field.

Equinor agreed to divest 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 in July.

Equinor and Lundin have now completed both parts of the transaction by meeting all transaction conditions, including government and regulator approvals.

The first part, Sparebank1 Markets’ acquisition of around 54.5 million shares in Lundin Petroleum from Equinor, concluded in August and followed the approval of the transaction in Lundin Petroleum’s Extraordinary General Meeting.

The second part, Equinor Energy’s acquisition of a 2.6 percent interest in the Johan Sverdrup field from Lundin Norway, concluded on August 30, 2019.

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