Equinor has acquired 41,197,344 shares in Ørsted, corresponding to 9.8% of the shares and votes in the company.
The transaction establishes Equinor as the second largest shareholder in Ørsted, after the Danish State, which holds a controlling stake in the company.
“Equinor has a long-term perspective and will be a supportive owner in Ørsted, says Anders Opedal, CEO of Equinor.
“This is a counter-cyclical investment in a leading developer, and a premium portfolio of operating offshore wind assets. The exposure to producing assets complements Equinor’s operated offshore wind portfolio of large projects under development.”
Equinor is supportive of Ørsted’s strategy and management, and is not seeking board representation.
Equinor’s ownership position was built through a combination of market purchases and a block trade. There are currently no plans to further increase the stake.
The transaction will be executed within Equinor’s communicated financial framework.
