Lundin Oil could be sold
Finanstidningen (Sweden), May 30
Lundin Oil, the Swedish oil company, is in negotiations to sell off some of its activities. Several companies have shown interest in them.
Lundin was one of the most traded shares in Stockholm yesterday, and its value increased by almost 16 per cent, to SKr33.50 per share. This was after the announcement of the possible sale. Ian Lundin, chief executive, promised that more details will be given in a few weeks.
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Lundin Oil will be sold to large competitor
Dagens Industri (Sweden) May 30
Lundin Oil, the Swedish oil company, is in the process of being sold to a large competitor. Ian Lundin, managing director, revealed that the news will be published within a couple of weeks. It was announced last week that Adolf Lundin, the Swedish oil magnate and Lundin Oil shareholder, reduced his stake from 25.5 per cent to 7.5 per cent.
Lundin Oil's share price has risen by 68 per cent during the year so far and stood at SKr32.30 on the Nasdaq yesterday. Lundin Oil has refused to reveal the name of the large competitor which is to acquire a majority stake in the company. A number of activities will be spun off and floated on the Stockholm stock exchange and possibly on other stock exchanges.
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My note: "Adolf Lundin reduced his stake from 25.5 per cent to 7.5 per cent" in VOSTOK OIL, NOT in Lundin Oil. |
