DONG has entered into an agreement with Intergas Energie N.V. to buy the Dutch gas supply company, Intergas Supply for EUR 47 million. Intergas Supply has about 150,000 gas customers and 30,000 electricity customers and had a turnover of approx. DKK 850 million in 2004.
With the acquisition of Intergas Supply, DONG has implemented an important step in its strategy to obtain a larger position in the Dutch energy market. Since July 2004, DONG has carried on wholesale trade on the Dutch gas market, and following the acquisition of Intergas Supply, DONG will now in-crease its customer base in Holland by 180,000 customers, primarily in the private segment and small and medium-sized businesses. Intergas Supply is located in the southern part of Holland and supplied approx. 500 million m3 gas and 150 GWh electricity to the Dutch market in 2004.
The Dutch gas company is a natural step following DONG's most recent acquisition in Northern Europe. In November 2004, DONG acquired a 25.1 per cent interest in the German energy company EWL and at the same time established a jointly owned energy company, 'E-nord', which is to market and sell gas, electricity and services in Germany.
DONG entered the Dutch market with supplies to Essent in July 2004. At the same time gas trading was started at the TTF in Holland and at the hubs in Zeebrügge in Belgium, NBP in Great Britain and Bunde in Germany.
Kurt Bligaard Pedersen, Executive Vice President, Trade & Supply, states the following on the acqui-sition: "The acquisition of Intergas Supply gives us a significant platform for continued growth in the Dutch gas market. With the highly competent management and committed employees at Intergas Supply, we are ready to face the increased competition on the Dutch market."
Given DONG's substantial own production of gas and holdings in the transmission grid from fields in Norway and Denmark to the gas markets in Denmark, Germany, Holland and Great Britain, DONG's new customers in Holland are guaranteed reliable supplies.
The final Dutch approvals of the acquisition of Intergas Supply are expected to be in place in Septem-ber 2005.
Michael Steen-Knudsen, Investor Relations, telephone +45 4517 1556
Jens Tovborg Jensen, Corporate Communication, telephone +45 4517 1565