Danish Parliament Approves Goldman Sachs’ Investment in Dong Energy

Today, the Danish Parliament’s Finance Committee approved the agreement on capital investment in DONG Energy of approximately DKK 13 billion ($2.3 billion).

The investment comes partly from new investors, ATP, PFA, and Goldman Sachs, and partly from existing minority shareholders, SEAS-NVE, SYD ENERGI, Insero Horsens and Nyfors Entreprise. All the regulatory approvals necessary to implementing this agreement are thus ensured.

Implementation of the agreement is now only subject to standard terms and conditions which must be fulfilled on the date of the implementation of the agreement. It is expected that the agreement can be implemented in connection with an extraordinary general meeting expected to be held in February 2014.

Related: Goldman Sachs, Funds Pay $2B for Stake in Dong Energy

 Black day for Danish Energy

The Red-Green Alliance, a democratic socialist party, which currently has 12 seats in the Danish Parliament, today described the Finance Commitee’s move as a “black day for Danish energy.”

“It is very sad. Both because we lose important control of Danish energy development, and because the government and the right wing has been completely unwilling to make way for a democratic debate on the resolution,” says Dean Stine Brix, a member of the Alliance’s executive committee. The party describes itself as a body which opposes corporate driven globalization, neoliberal politics and privatization and fights for a public sector in which people, not profit, are at centre.

January 30, 2014

 

 

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