Lundin Energy Ab Stock Price, News & Analysis

Orrön Energy announced a recommended public offer for Slitevind AB, proposing SEK 125 in cash per share. The offer has been accepted by shareholders holding 91.0% of Slitevind’s shares. All conditions for the offer's completion have been met, with settlement for shares tendered expected by August 31, 2022. The acceptance period has been extended to September 5, 2022, allowing more shareholders to participate. Additionally, Orrön Energy plans a compulsory buy-out for remaining shares and intends to delist Slitevind from Nasdaq First North Growth Market.

Orrön Energy Holding AB announced a recommended public offer to acquire all shares in Slitevind AB for SEK 125 per share. The initial acceptance period for the offer ended on 23 August 2022, with preliminary counts indicating that approximately 91% of shareholders accepted the offer. The completion of the offer depends on Orrön Energy acquiring more than 90% of Slitevind's shares. The final count of shares tendered is expected to be released on or around 24 August 2022.

Orrön Energy reported a significant USD 12.9 billion gain from the Aker BP transaction, marking its transition into a pure-play renewables company. The company achieved 83 GWh in net power generation with an average power price of EUR 127 per MWh. Orrön boasts a strong financial position with MUSD 124 in cash and no debt. Operationally, the Metsälamminkangas wind farm is fully operational, and the Leikanger hydropower plant exceeded expectations with 53 GWh generated. The Karskruv wind farm is on track to add 290 GWh by year-end.

On August 1, 2022, Orrön Energy Holding AB announced a recommended public offer for Slitevind AB shareholders to tender their shares at SEK 125 each. The acceptance period runs from August 2 to August 23, 2022, with expected settlement around August 31, 2022. The Offer Document is available on their website. Orrön Energy has retained SEB Corporate Finance as a financial adviser, with other legal and tax advisory roles assigned. This offer bolsters Orrön Energy's strategy to enhance shareholder value through expansion in the renewable energy sector.

Orrön Energy Holding announces a recommended public offer to acquire Slitevind AB shares for SEK 125 each, representing a 30% premium over the recent trading average. The offer is endorsed by Slitevind's Board and major shareholders controlling 49.5% of shares. The transaction aims to enhance Orrön’s growth in the Nordics, increasing net power generation to over 1 TWh annually. The acceptance period starts on 2 August 2022 and ends on 23 August 2022. Orrön plans to fund the acquisition through existing reserves and a credit facility.

Orrön Energy announces the passing of former Board member Lukas H. Lundin on July 26, 2022, at age 64 after a two-year battle with brain cancer. A key figure in the Lundin Group, Lukas was influential in the successful transition of Lundin Energy into Orrön Energy. His leadership and vision helped the company grow, employing over 15,000 people and achieving a market capitalization exceeding USD 11 billion. The Lundin family vows to carry on his legacy, emphasizing their commitment as long-term shareholders and their focus on building the companies' successes.

Lundin Energy AB is rebranding to Orrön Energy AB, transitioning to a pure play renewables business. The company has a strong portfolio of high-quality, low-cost renewable assets in the Nordics, with cash flowing assets, zero debt, and up to MUSD 180 available for acquisitions. Trading under the current ticker ‘LUNE’ until the name change to ORRON on or around July 1, 2022, Orrön Energy aims to capitalize on the energy transition. CEO Daniel Fitzgerald emphasizes aligned interests among stakeholders to drive growth and create long-term shareholder value.

Lundin Energy has successfully completed its combination with Aker BP, forging a leading European independent E&P company. This combination results in a world-class asset base and aims to deliver increased dividends for shareholders. Shareholders are set to receive cash totaling BUSD 2.22 per share and 271,910,019 Aker BP shares. However, this merger means Lundin Energy will not pay the remaining quarterly dividends previously resolved. Lundin Energy's renewables-focused growth segment will be rebranded as Orrön Energy from July 1, 2022.

Lundin Energy has updated its guidance for its renewables business, soon to be named Orrön Energy. The capital expenditure guidance for H2 2022 is revised down to MUSD 10 from MUSD 20 due to project scheduling at the Karskruv wind farm. Total future capital costs for the Karskruv project are now estimated at MUSD 90, reduced from MUSD 100. The company's cash position as of July 1, 2022, remains at MUSD 130.