DONG Energy comment on media speculation regarding oil & gas business
In connection with its IPO, DONG Energy confirmed its intention to build a world-class clean energy company with a portfolio based on leading competences in offshore wind, bioenergy and green distribution and customer solutions. DONG Energy further said that it would manage its oil & gas business for cash, and that future cash flows from the oil & gas business would be used to fund DONG Energy’s investments in renewable energy. As such, it was confirmed that the oil & gas business was not considered a long-term strategic commitment for DONG Energy.
In response to media speculation, DONG Energy confirms that it is reviewing strategic options regarding the future of the oil & gas business, and that J.P. Morgan has been engaged to conduct a preliminary market assessment. However, DONG Energy has not made a decision to divest the oil & gas business.
The information provided in this announcement does not change DONG Energy's previously announced outlook for the 2016 financial year.
For additional information, please contact:
+45 99 55 95 60
Henrik Brünniche Lund
+45 99 55 97 22
Based in Denmark, DONG Energy (NASDAQ OMX: DENERG) is one of Northern Europe’s leading energy groups. Approximately 6,500 dedicated employees work with developing, constructing and operating offshore wind farms, producing power and heat from our power stations, supplying energy to private and business customers and producing oil and gas. Consolidated revenue amounted to DKK 71 billion (EUR 9.5 billion) in 2015. For further information, see www.dongenergy.com