Equinor Sells Down Scatec Stake

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 14. Equinor ASA has sold an 8.07% stake in Scatec ASA at a price of NOK 125 per share, the company said, Trend reports.

The transaction is valued at approximately NOK 1.6 billion. Following the sale, Equinor retains an 8.05% shareholding in Scatec.

As part of the deal, Equinor has agreed to a 90-day lock-up period for its remaining shares.

Equinor initially acquired a minority stake in Scatec in 2018 and subsequently increased its holding to 16.12% through a series of purchases between 2019 and 2023. The company's average entry price is estimated at around NOK 80 per share, including dividends received.

Despite the partial divestment, the two companies will continue their partnership in the Apodi and Mendubim solar projects in Brazil, which remain unaffected by the transaction.

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