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BP to Pay Equinor $1.1B for 50% Stake in U.S. Offshore Wind Projects, Forming New Partnership

London-based BP PLC (NYSE: BP) has agreed to pay $1.1 billion to form an offshore wind joint venture with Norway-based Equinor ASA (NYSE: EQNR), formerly Statoil. Both companies have major offices in Houston.

J.P. Morgan Securities PLC acted as financial adviser to BP, and Bracewell LLP advised Equinor.

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