5 August 2019

Gernandt & Danielsson advises Lundin Petroleum in connection with the redemption of 16 per cent of the shares in the company and the sale of a part of the Johan Sverdrup unit

Gernandt & Danielsson has advised Lundin Petroleum AB (publ) in connection with the redemption of 16 per cent of the shares in the company that are held by Equinor ASA and the sale of 2.6 per cent of the Johan Sverdrup unit to Equinor Energy AS. The compensation payable in connection with the redemption of the shares amounts to USD 1,557 million and the purchase price for the part of the Johan Sverdrup unit amounts to USD 962 million (of which USD 52 million is contingent of certain future events).

The redemption of the shares (which involves a share swap transaction, a reduction of the share capital with retirement of shares and a bonus issue) and the sale of the part of the Johan Sverdrup unit were approved by an extraordinary general meeting in Lundin Petroleum AB (publ) on 31 July 2019. The sale remains conditional upon customary approvals from Norwegian government authorities.

The shares in Lundin Petroleum AB (publ) are listed on Nasdaq Stockholm and the shares in Equinor ASA are listed on Oslo Stock Exchange.

Gernandt & Danielsson’s team consisted of partners Carl Westerberg, Candra Torebring and Rolf Larsson, together with senior associate Erika Olofsson and associate Daniel Sveen.

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