-- Norwegian energy company, Equinor (EQNR) said on Tuesday that it has divested an 8.07% shareholding in Scatec, a renewable energy systems company, in a deal worth 1.6 billion Norwegian krone ($170 million), at 125 krone per share.
According to the company's press release, Equinor will retain an 8.05% stake in the Oslo-based company following this transaction, and has also agreed to a 90-day lockup on its remaining shares, preventing any further sales during this period.
Equinor first became a minority shareholder in Scatec in 2018, before steadily increasing its stake to 16.12%, across several purchases between 2019 and 2023. Its average entry price stands at 80 krone, including dividends.
The company noted that it will continue to partner with Scatec on the Apodi and Mendubim solar projects in Brazil, which remain unaffected by the transaction.