Equinor estimated to have lost NOK 7 billion on Ørsted investment - E24
In percentage terms, this is a reduction of 30%. One of the critics of the investment was Eika Kapitalforvaltning, which owns shares in Equinor.
"I haven't exactly become less critical when I was critical in the first place and then the stock falls close to 30 percent," Eika's chief investment officer Gaute Eie told E24.
He also believes that Equinor has now painted itself into a corner. This is because the investment was made on the basis that it was cheaper to buy into Ørsted than to develop equivalent offshore wind capacity themselves.
"If they bought 30 percent 30 years ago and say it was cheaper to buy Ørsted than to develop it themselves, then it goes without saying that they just have to start buying more," says Eie.
Equinor has commented that this is a long-term investment, and that it does not comment on returns on an ongoing basis.
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