Aker BP, Lundin Energy to Merge in $14 Billion Deal

“The proposed combination has strategic, and value accretive benefits and the combined company will be characterized by increased scale, world-class quality, and high returns,” Aker BP and Lundin said in a joint statement.

Terje Solsvik, Reuters

Norway’s Aker BP will buy the oil and gas business of Sweden’s Lundin Energy, forming the second-largest listed petroleum firm on the Norwegian Continental Shelf, the two companies said on Dec. 21.

The cash and stock transaction values the acquired assets at approximately 125 billion Norwegian crowns (US$13.9 billion), they said.

“The proposed combination has strategic, and value accretive benefits and the combined company will be characterized by increased scale, world-class quality, and high returns,” Aker BP and Lundin said in a joint statement.

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