DONG Wins Investment From Goldman Sachs And Others; Director Steps Down

NAW Staff, Friday 31 January 2014 - 12:35:41

The Danish Parliament's Finance Committee has signed off on the final implementation of the approximately $2 billion investment agreement in Dong Energy from new investors Goldman Sachs, Arbejdsmarkedets Tillaegspension and PFA, as well as from existing minority stakeholders. The deal was initially announced in October 2013.

In addition, DONG Energy has announced Fritz Schur will step down as chairman of its board of directors in March.

“I’ve been in the post for nine years, the company is developing well, a strong
management is in place, and with the addition of the new shareholders, a new
chapter will begin in the lead up to the initial public offering in 2017-2018. It is a good time to hand over to a successor,” says Schur.

Schur took on the role in 2005 in order to complete the merger of the six energy companies Elsam, Energi E2, Nesa, Kobenhavns Energi, Frederiksberg Forsyning and DONG. The merger was a success, and DONG Energy says it has become an international energy company and one of Denmark’s largest companies. At the same time, the company adds, it has embarked on an ambitious transformation to green energy. From 2007 to 2013, DONG Energy has invested about $9 billion in wind energy projects, including offshore wind farms.





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