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. ….