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UTILITIES: Orsted (ORSTED Baa1[N]/BBB/BBB+): Equinor Takes Stake

UTILITIES
  • Equinor (Aa2/AA-) has announced it’s taken a 9.8% stake in Orsted. It does intend to go above 10%. It supports Orsted management and is not seeking a board seat.
  • Another strong shareholder is no bad thing, but with Denmark already the controlling shareholder we see no real impact here.
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  • Equinor (Aa2/AA-) has announced it’s taken a 9.8% stake in Orsted. It does intend to go above 10%. It supports Orsted management and is not seeking a board seat.
  • Another strong shareholder is no bad thing, but with Denmark already the controlling shareholder we see no real impact here.