By Dominic Chopping
Equinor has partially sold its stake in Norwegian renewable energy company Scatec for around $169 million.
The company said it has divested an 8.07% stake for around 1.6 billion Norwegian kroner ($169.3 million), leaving it with an 8.05% share.
It sold its shares at a price of 125 kroner a share, a discount to Scatec's closing price of 134.40 kroner on Monday.
Equinor became a minority shareholder in Scatec in 2018 and later increased its shareholding to 16.12% through several purchases between 2019 and 2023. It has now entered a 90-day lock-up agreement for its remaining shareholding.
Scatec develops, builds, owns, and operates renewable energy projects with a focus on solar and battery storage.
"Scatec and Equinor continue to be partners in the Apodi and Mendubim operating solar assets in Brazil," Equinor said in a statement. "These partnerships are unaffected by the transaction."
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
04-14-26 0322ET
