STANDARD ANNOUNCES FULL DIVESTMENT OF SHARE OWNERSHIP IN SUNCOR ENERGY INC.
PARIS, Sept. 4, 2024 /PRNewswire/ -- Standard, the Paris-based Family Office, announces that it has completed the disposal of its entire shareholding in Suncor Energy Inc. ("Suncor"), the TSX and NYSE listed integrated energy company headquartered in Calgary, Alberta. This announcement is made pursuant to the transparency requirements of the Joint Shareholder Agreement ("JSA") Standard signed with its partners.
Standard's investment in Suncor Energy Inc amounted to ownership of, or control and direction over, a total of 3,000,000 common shares acquired during the second half of 2020. The divestment was made as part of the ongoing portfolio optimisation strategy of Standard and its partners.
Commenting on the disposal, Thomas Gouttman, President and CEO of Standard, said:
"We are impressed by Suncor's progress and trajectory, in particular under the superb leadership of Rich Kruger, whose nomination last year we actively supported. We look forward to staying engaged with its other shareholders, and will closely monitor the company's evolution in a stabilized operating environment."
About Standard
Standard manages its founding family's shareholdings, overseeing a concentrated portfolio of investments in energy, pharmaceutical, industrial and technology companies across Western Europe and Canada primarily.
About Suncor Energy Inc.
Suncor Energy is an integrated energy company. The Company explores and develops petroleum resource basins, including oil sands development and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. Suncor Energy conducts its business in the United States, United Kingdom, and Canada.
For further information:
Celicourt Communication; +44 (0)20 7770 6424
Celicourt (PR): standard@celicourt.uk
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