Oil company Lundin will split in two

Swedish oil company Lundin plans to get rid of all its fields outside of Norway and management will exclusively "focus on maximizing shareholder value from its Norwegian portfolio."

Changes are in store for Swedish oil company Lundin, as the board has decided to cut the company in half, leaving two oil companies for shareholders.

Lundin informs in a statement that the intention is to separate the company's non-Norwegian assets into a new company under the name International Petroleum Corporation (IPC). The remaining Lundin business will own the company's Norwegian assets after the spin-off.

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