Divestment of DONG Energy’s Danish gas distribution grid has been completed
On 10 May 2016, DONG Energy entered into an agreement with the state owned entity Energinet.dk, under which Energinet.dk will acquire DONG Energy’s 100% ownership share in DONG Gas Distribution A/S and related operational activities.
Following approval from inter alia the Ministry of Finance, the Ministry of Energy, Utilities and Climate and the competition authorities, the transaction has been completed today.
DONG Gas Distribution A/S is divested for a total consideration of DKK 2.3 billion (enterprise value), and is expected to result in a gain from sale of enterprises (not part of EBITDA) of DKK 1.5 billion. The EBITDA contribution from DONG Gas Distribution A/S was DKK 360 million in 2015.
The information provided in this announcement does not change DONG Energy's previously announced outlook for the 2016 financial year.
For further information, please contact:
+45 99 55 95 83
Henrik Brünniche Lund
+ 45 99 55 97 22
DONG Energy (NASDAQ OMX: DENERG) is one of Northern Europe's leading energy groups and is headquartered in Denmark. Approximately 6,700 ambitious employees are involved in developing, constructing and operating offshore wind farms, producing electricity and heating from our power stations, supplying energy to private and business customers and producing oil and gas. Group revenue was DKK 71 billion (EUR 9.5 billion) in 2015. For further information, visit www.dongenergy.com.