Lundin Oil (LOILY, LOILB Sweden) Message Board

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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tommaso who wrote (2454)	5/29/2001 10:35:50 AM
From: Icebrg	Read Replies (1) of 2742

>>Are they going to use these sales to take the company private?>> No, that it not the picture emerging from Swedish media today. What they are planning to do is 1. Sell Lundin Oil to a major (everything is relative) western oil-company. 2. Keep some parts of the company outside the deal. Unclear how. They might either distribute this part to the shareholders before the transaction, which would have some fiscal advantages for Swedish based shareholders. Or they might sell the complete company and buy back the parts they want. 3. The present shareholders will be invited to continue their ownership of the newly created company. Possibly by both a share dividend and a rights issue. Details are not very clear at this stage. And they are of course still only negotiating. Anyhow, seeing what we see today the improved exchange terms for Sodra suddenly makes a lot more sense. They simply wanted that transaction out of the way. Ice

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