DONG Energy divests its Danish gas distribution grid to Energinet.dk

Today, DONG Energy and the state owned entity, Energinet.dk, have signed an agreement under which Energinet.dk will acquire DONG Energy’s 100% ownership share in DONG Gas Distribution A/S and related operational activities. 97 employees will be transferred to Energinet.dk, when the transaction is closed 30. September 2016.
DONG Gas Distribution A/S will be 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.  …