Equinor acquires 9.8% stake in Ørsted for $2.5B, becoming its second-largest shareholder.

Norwegian energy firm Equinor has purchased a 9.8% stake in Danish renewable company Ørsted for approximately $2.5 billion, becoming its second-largest shareholder after the Danish government. This investment aligns with Equinor's strategy to enhance its renewable energy portfolio. Despite challenges in the offshore wind sector, Equinor remains optimistic about its long-term prospects and is not seeking board representation. Plans to increase ownership to 10% are pending regulatory approval.

October 07, 2024
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