Goldman Sachs invests in DONG Energy

Goldman Sachs and two Danish pension funds have invested a total of DKK11 billion (£1.24bn) in DONG Energy. Funds managed by the global investment bank will buy new shares worth […]

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By Priyanka Shrestha

Goldman Sachs and two Danish pension funds have invested a total of DKK11 billion (£1.24bn) in DONG Energy.

Funds managed by the global investment bank will buy new shares worth DKK8 billion (£0.9bn) – gaining a 19% stake in the Danish company.

Pension fund ATP will invest DKK2.2 billion (£0.25bn) for a 5% stake while PFA will buy a 2% stake worth DKK0.8 billion (£0.09bn). This will bring a reduction in the Danish Government’s ownership from around 81% to 60%.

Henrik Poulsen, CEO of DONG Energy, which has a 50% stake in the London Array offshore wind farm said: “With the injection of new equity, we have almost fully delivered on our financial action plan and have thus secured the necessary platform for pursuing our ambitions for the coming years.”

The final agreement is expected to be completed before the end of the year.

DONG Energy opened up a new power tariff last month and has since landed three customers for its electricity.