One-Page Deal Sheet
Statoil Swaps Edvard Grieg Interest for Lundin Shares
Equinor Lundin Petroleum
Announced Date
May 03,2016
Effective Date
January 01,2016
Close Date
June 30,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
475
Asset/Basin:
{"North Sea"}
Transaction Details: Subscribe to see
Statoil ASA has entered into an agreement with Lundin Petroleum AB to divest its entire 15 percent interest in the Edvard Grieg field for an increased shareholding in Lundin Petroleum.
The transaction also includes divestment of a 9 percent interest in the Edvard Grieg Oil pipeline and a 6 percent interest in the Utsira High Gas pipeline, and in addition payment of a cash consideration of USD 68 million to Lundin Petroleum.
Following completion of the transaction Statoil will own approximately 68.4 million shares of Lundin Petroleum, corresponding to 20.1 percent of the shares and votes. The…
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