Denmark Approves Dong Capital Increase

Denmark Approves Dong Capital Increase

Today, the Danish Parliament's Finance Committee approved the agreement on capital investment in DONG Energy of approx DKK 13 billion.

The investment comes partly from new investors, Goldman Sachs: DKK 8 billion, Arbejdsmarkedets Tillægspension: DKK 2.2 billion and PFA Pension Forsikringsaktieselskab: DKK 0.8 billion, and partly from existing minority shareholders.

The combined investment of the existing minority shareholders will total DKK 2,050 million, made up as follows: SEAS-NVE: DKK 1,420 million; SYD ENERGI: DKK 450 million; Nyfors Entreprise: DKK 100 million; and Insero Horsens: DKK 80 million.

Implementation of the agreement is now only subject to standard terms and conditions which must be fulfilled on the date of the implementation of the agreement. It is expected that the agreement can be implemented in connection with an extraordinary general meeting expected to be held in February 2014.

The content of this company announcement does not affect DONG Energy’s previously announced expectations to the financial result for the financial year 2013 or the expected investment level for 2013-2014.

Press release, January 30, 2014; Image: flickr