ABG Sundal Collier acted as financial advisor to Concedo AS in connection with the sale to Attica Exploration AS

On Tuesday 20 June 2023, it was announced that Attica Exploration AS – a newly formed private entity backed by Lundin family members – has successfully acquired 99% of the shares in Concedo AS (“Concedo”). Concedo shareholders representing 37% of the Concedo share capital will participate in the new company by accepting settlement in the form of sares.
Concedo is a technically focused oil and gas exploration company operating solely on the Norwegian Continental Shelf (“NCS”). Since its formation in 2006, the company has been awarded interests in 57 licenses and participated in 22 wells, resulting in 11 discoveries.
The transaction marks Lundin’s return to the NCS and the beginning of a strategic partnership that will combine the financial and technical competence of the Lundin family network and Concedo’s extensive experience in Norway, positioning the company to unlock significant value throughout the NCS through licensing and pursuing production asset opportunities.
The terms of the transaction are undisclosed, and closing is subject to customary regulatory approvals.