Statoil said it has completed its transaction with Lundin Petroleum to sell it 15% of its interest in the Edvard Grieg field for an increased shareholding in the company.
The transaction also included the divestment of associated pipeline interests and a cash consideration of $64million.
In exchange, Statoil has received 31,316,115 new shares and treasury shares in Lundin Petroleum.
The transaction was approved by Lundin Petroleum’s extraordinary general meeting on May 30th and has received the required authority approvals.
Following the completion of the transaction, Statoil will own 68.4million shares of Lundin Petroleum, which corresponds to 20.1% of the shares and votes.