Aker BP and Lundin Energy combine their oil and gas businesses

Aker BP ASA (Oslo Børs: AKRBP) and Lundin Energy AB (Nasdaq Stockholm: LUNE) today jointly announced that Aker BP ASA (“Aker BP”) and Lundin Energy AB (“Lundin Energy”) have entered into a transaction agreement pursuant to which Aker BP shall combine its business with Kommstart 157 AB (publ), reg.no. 559355-1764 (“Target”), a newly established Swedish public limited liability company currently wholly-owned by Lundin Energy, which at the time of completion of the Merger (as defined below) shall consist of inter alia all of Lundin Energy’s oil and gas related assets. The combination shall be made through a statutory merger (the “Merger”), whereby the merged company will become the second largest oil and gas producer on the Norwegian Continental Shelf (the “Combined Company”). The Merger will be implemented by Aker BP absorbing the Target.

Full press release is attached: Aker BP and Lundin Energy.pdf