Deal insight

Statoil acquires a 12% equity stake in Lundin for US$540 million

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Report summary

Statoil has acquired an 11.93% equity stake in Stokholm-listed Lundin Petroleum. No new equity was issued; the stock was acquired in the open market. The acquisition adds to Statoil's core portfolio in Norway at what could be a low point in the price cycle. With the Lundin family still controlling 31.4% of the company, the move effectively heads-off any threat of a rival bid for Lundin, and gives Statoil a position from which it might build a bigger stake over time. The deal signals Statoil's confidence in the Johan Sverdrup project, which is a crucial project for both companies. The deal may also help align interests in the Barents, where a joint development between Statoil's Johan Castberg and Lundin's Gohta and Alta discoveries could improve the economics of both areas.

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    Statoil acquires a 12% equity stake in Lundin for US$540 million

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Table of contents

  • Executive summary
  • Transaction details
    • Johan Sverdrup
    • Edvard Grieg
    • Other assets
    • Exploration and appraisal
  • Deal analysis
    • Barents sea
    • Johan Sverdrup
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

Tables

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1

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