Dong Energy to sell gas distribution business in Denmark for $351m
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11 May 2016
Dong Energy has signed an agreement to sell its 100% ownership stake in gas distribution business in Denmark and related operational activities to Energinet.dk for kr2.3bn ($351m).
The company’s sale of Dong Gas Distribution is part of the political agreement regarding its initial public offering.
Dong Gas Distribution is expected to result in a gain from sale of enterprises of kr1.5bn ($229m).
The EBITDA contribution from DONG Gas Distribution stood at kr360m ($55m) in 2015. … Energinet.dk will also follow the same regulation on tariffs that Dong Gas Distribution follows today.