Lundin Energy shares drop 98% on ex-dividend date ahead of divestment of oil & gas biz

Orron Energy AB

23/06/2022 09:09

** Shares in Sweden's Lundin Energy  LUNE.ST  trade 98%
lower on its ex-dividend date related to acquisition of the
company's oil and gas business by Aker BP  AKRBP.OL 
    ** Under the terms of the deal, Aker BP is to absorb a
company - Lundin Energy MergerCo AB (publ) - that will contain
Lundin Energy's E&P business 
    ** Wednesday was the last day of trading in Lundin Energy's
shares with the right to receive the Lex Asea dividend, a
distribution of Lundin Energy MergerCo to shareholders of the
parent company
    ** The merger consideration that thereafter will be payable
to the new shareholders of Lundin Energy MergerCo will consist
of a mix of cash and shares in Aker BP  urn:newsml:reuters.com:*:nL8N2T63VQ
    ** The merger is expected to be completed on June 30, after
which Lundin Energy will change its name to Orrön Energy
 urn:newsml:reuters.com:*:nFWN2Y2036 

 (Reporting by Agata Rybska)
 ((agata.rybska@thomsonreuters.com))