On 13 January 2019, The Danish Ministry of Finance informed Ørsted that there is no longer the required political support for continuing the ongoing structured divestment process concerning the Danish power distribution and residential customer businesses for power and gas as well as the city light business. Consequently, Ørsted's Board of Directors has decided to discontinue the process.
It is still the Board of Directors’ assessment that Ørsted is not the best long-term owner of the businesses in question, and that it is in the best interest of the company, the shareholders and the customers that they are transferred to another owner, enabling Ørsted to strengthen its strategic focus and ambition to create a global leader in green energy.
Consequently, Ørsted will continue to classify the said businesses as assets held for sale and continue to investigate the different options for exiting the businesses, which ultimately also could entail a separation of the said businesses to Ørsted shareholders. As a result, the ongoing work of separating the said businesses into an independent company will continue.
The information provided in this announcement does not change Ørsted’s previously announced outlook for the 2018 financial year.
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Martin Barlebo Daniel Lerup
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The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs and operates offshore and onshore wind farms, bioenergy plants and innovative waste-to-energy solutions and provides green energy products to our customers. Headquartered in Denmark, Ørsted employs 6,000 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2017, the Group generated revenue of DKK 59.5 billion (EUR 8.0 billion). For more information on Ørsted, visit https://orsted.com/ or follow us on Facebook, LinkedIn, Instagram and Twitter.