The Danish energy company DONG Energy acquires 83.57% of the shares in the
German wholesale company KOM-STROM AG from the Dutch energy company Essent at a
total price of EUR 27 million, or approximately DKK 200 million.
KOM-STROM is a wholesale company based in Leipzig - with 35 employees - that
has been operating in the energy market for more than 10 years. In addition to
Essent, its owners comprise eleven local utility companies - Stadtwerke, which
are minority shareholders. KOM-STROM's core business consists of sales of all
energy related commodities with a strong market position in portfolio
management advisory as well as operational and financial services primarily to
Stadtwerke and energy intensive industrials all over Germany.
DONG Energy is already represented on the German energy market with its Hamburg
based wholesale company DONG Energy Sales GmbH. Its core business consists of
sales of power and gas products to Stadtwerke and, on a smaller scale, to
“The opportunity to take over the share majority in KOM-STROM is perfectly
aligned with our ambitions of strengthening our wholesale business in Germany,
which over the past four years has been established through the activities in
DONG Energy Sales GmbH. Investing in KOM-STROM increases our product portfolio,
providing us with better opportunities to become the preferred supplier to the
Stadtwerke and big industrial customers”, says Kurt Bligaard Pedersen,
Executive Vice President of DONG Energy.
“DONG Energy enables KOM-STROM to expand its offerings especially into gas but
also give us access to a variety of assets and ambitious projects in the German
markets.” stated Markus Laukamp, CEO of KOM-STROM.
“Essent is selling its shares in KOM-STROM as part of a strategic realignment.
KOM-STROM's unique profile in Germany, with its strong relationships and solid
reputation in the municipal markets, makes it a valuable asset for the new
shareholders”, says Remco Frenken, Senior Vice President at Essent Trading.
The completion of the transaction is subject to approval by the EU competition
authorities and the German financial supervisory authorities BAFIN. The
approvals are expected to be granted during the autumn 2009.
The content of this announcement does not alter the previously announced
expectations for DONG Energy's financial result for 2009 or the announced
expected level of investments.
For further information, please contact:
+45 9955 9560
Morten Hultberg Buchgreitz
+45 9955 9750
DONG Energy is one of the leading energy groups in Northern Europe. We are
headquartered in Denmark. Our business is based on procuring, producing,
distributing and trading in energy and related products in Northern Europe. We
have approximately 6,000 employees and generated more than DKK 60 billion
(approx. EUR 8.2 billion) in revenue in 2008. For further information, see