DONG has today signed an agreement with Frederiksberg Municipality on DONG's acquisition of Frederiksberg Forsyning's electricity activities, including its 2.26 per cent ownership interest in ENERGI E2, for a total price of DKK 1 billion. The payment will be made in cash.
As part of the agreement DONG will undertake the day-to-day operation of the Municipality's other supply activities within heat, town gas, drainage and water.
The price includes Frederiksberg Forsyning's 2.26 per cent shareholding in ENERGI E2. These shares have been acquired for a price of DKK 384 million, valuing ENERGIi E2 at DKK 17 billion in total. This corresponds to the value forming the basis for DONG's acquisition of Copenhagen Energy's shares in ENERGI E2.
The agreement is subject to regulatory approval as well as acceptance by Frederiksberg Municipality District Council.
Frederiksberg Forsyning today supplies electricity to 60,000 customers and has 180 employees. The employees will be offered continued employment with the company. Frederiksberg Forsyning is a well-run company, and the agreement ensures that it will be able to continue providing all types of utility supplies at a high level of service. "For Frederiksberg Municipality, in addition to the public's security of supply, it has been vital to retain the existing synergies from joint operation of the different supply types", says Mayor Mads Lebech, continuing: "It has also been important for us to find a solution that will secure the maximum number of jobs as well as the Municipality's values in the upheaval taking place in the energy sector".
Mads Lebech, Mayor, tel. +45 3821 2030 / mobile +45 2094 9046
Anders Eldrup, CEO of DONG, tel +45 4517 1550.