Equinor raises Orsted stake to 10%, as planned


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.
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)
Foreign direct investment (FDI) refers to an investment made by a company or individual in one country in business interests in another country, typically through establishing business operations or acquiring assets.
Equity represents ownership in a company, typically in the form of stocks. It signifies the value of an owner's share in the company after all liabilities have been deducted.
Renewable energy is energy generated from natural resources that are replenished over short periods, such as solar, wind, hydroelectric, and geothermal energy.
An investment is an asset or item acquired with the goal of generating income or appreciation. Investments can include stocks, bonds, real estate, and other financial instruments.
Sustainability in finance refers to the practice of considering environmental, social, and governance (ESG) factors in investment decisions to promote long-term economic growth without harming future generations.
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