Regions

Goldman Sachs Group, Danish pension funds nears close of Dong Energy stake acquisition- source

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September 27
9:43 AM 2013

A source told Bloomberg that Goldman Sachs Group Inc and two Danish pension funds were close to purchasing a stake in Denmark's Dong Energy. According to the person with knowledge of the matter, the group would acquire more than 20% in ownership with a price tag of over USD 1.5 billion. The person also said that Goldman would be leading the purchase and would have a greater stake than the two pension funds.

In February, the Danish government revealed that it was selling a stake in its largest utility. The move came after the firm lost money on investments it made on natural gas.

The source said negotiations are still ongoing on the terms of the exit. The person disclosed that the buyers were asking that a clause be included in the agreement allowing them to sell their shares to the government. They also wanted a timetable on when Dong shares would conduct an initial public offering.

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