DONG Energy has decided to sell its 65.6 per cent ownership (owned via DONG EGJ
A/S) of the water and district heating activities in EnergiGruppen Jylland to
EnergiMidt. The other owner, the Municipality of Herning, will keep its share
of the activities, which will continue in a separate company. At the same
time, DONG Energy and the Municipality of Herning are selling the development
company EGJ Udvikling A/S to EnergiMidt.
The total price of the shares affected, amounts to approx. DKK 186 million
(100%). The price of DONG Energy's part of the divested shares totals approx.
DKK 108 million.
The remaining activities within combustion and biogas in EnergiGruppen Jylland
will be continued by the Municipality of Herning and DONG Energy in the company
EnergiGruppen Jylland F&B.
This agreement adds to the focus of DONG Energy's activities and ensures a good
continuation of the water and heating activities within EnergiGruppen Jylland,
in cooperation between the Municipality of Herning and EnergiMidt.
The sale is expected to be finalised in the second half of 2008 and causes an
accounting profit before minority interests of approx. DKK 90 million, which
will be recognised in the 2008 income statement. The accounting profit after
minority interests amounts to approx. DKK 45 million.
The contents of this release do not affect DONG Energy's expectations to the
financial result for the financial year 2008 which - as previously published -
is expected to be on a par with the 2007 result.
For further information, please contact:
Steen Juul Jensen
+45 9955 9724
+45 9955 2023
DONG Energy is one of Northern Europe's leading energy groups. We are
headquartered in Denmark. Our business is based on procuring, producing,
distributing, trading and selling energy and related products in Northern
Europe. The company delivered revenue of DKK 41.6 billion in 2007 (approx. EUR
5.6 billion or USD 8.3 billion). DONG Energy has more than 5,000 employees. For
further information, see www.dongenergy.com.