Equinor Completes 10% Stake Acquisition in Orsted for $2.3B

Equinor ASA EQNR, the Norwegian energy giant, has successfully completed its acquisition of a 10% shareholding in Denmark-based Orsted, a move initially announced on Oct. 7, 2024. This development solidifies Equinor’s standing as the second-largest shareholder in Orsted, following the Danish State, which maintains a controlling stake.The final acquisition was executed after obtaining necessary approvals under applicable Foreign Direct Investment regulations. To reach the 10% mark, an additional 0.2% stake, equivalent to 840,764 shares, was purchased.The total consideration for the transaction was USD 2.3 billion, reflecting a volume-weighted average price of DKK 398.5 per share. This valuation is based on a USD/DKK exchange rate of 7.15.This acquisition positions Equinor strategically within the global renewable energy space, aligning with its transition goals. As the second-largest shareholder in Orsted, Equinor reinforces its influence as a leading offshore wind and renewable energy company.Orsted’s prominence in the energy transition sector complements Equinor’s ambitions to diversify its portfolio and expand its renewable energy footprint.With this investment, Equinor strengthens its commitment to sustainable energy development, enhancing synergies between the two companies. The collaboration is expected to unlock new opportunities for innovation and growth in the global renewable energy market.EQNR’s Zacks Rank & Key PicksEQNR currently carries a Zacks Rank #3 (Hold).Investors interested in the energy sector may look at some better-ranked stocks like TechnipFMC plc FTI, Oceaneering International, Inc. OII and Nine Energy Service NINE. While TechnipFMC presently sports a Zacks Rank #1 (Strong Buy), Oceaneering and Nine Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. It focuses on the subsea segment in offshore basins worldwide. FTI’s growing backlog ensures strong revenue visibility and supports margin improvements.Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability.Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position the company for growth in the long run.Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TechnipFMC plc (FTI): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis Report Nine Energy Service, Inc. (NINE): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks