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Home > Finance > Equinor raises Orsted stake to 10%, as planned

Finance

Equinor raises Orsted stake to 10%, as planned

Published by Global Banking and Finance Review

Posted on December 23, 2024

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OSLO (Reuters) - Equinor said on Monday it has bought an additional stake of 0.2% in Danish energy group Orsted, raising its ownership to 10%, in line with the Norwegian group's previously stated intention.

Equinor first announced its purchase of a 9.8% stake in the Danish offshore wind farm developer in October this year.

"Following approvals under applicable Foreign Direct Investment regulations, Equinor has acquired an additional 0.2% shareholding," the Norwegian group said in a statement on Monday.

The volume weighted average price for the 10% stake was 398.5 Danish crowns per share, equalling a total consideration of USD 2.3 billion based on an exchange rate of 7.15 Danish crowns per U.S. dollar, Equinor said.

(Reporting by Terje Solsvik, editing by Louise Rasmussen)

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