The Denmark government, majority owner of DONG Energy, plans to enter a deal whereby Goldman Sachs and two Danish pension funds will invest DKK 11 billion (approximately $2 billion) for a total 26% ownership interest in the energy company. In addition, the parties agree to seek an initial public offering (IPO) of DONG Energy when conditions are right.
Goldman Sachs will invest DKK 8 billion, with pension funds Arbejdsmarkedets Tillægspension (ATP) and PFA Pension Forsikringsaktieselskab (PFA) investing DKK 2.2 billion and DKK 0.8 billion, respectively. The ownership interests of the new investors will be as follows: Goldman Sachs approximately 19%, ATP approximately 5% and PFA approximately 2%. The Danish State's ownership interest will be reduced from about 81% to 60%. If the deal receives necessary approvals, DONG Energy expects final agreement to be concluded before year's end.
DONG Energy, which currently has almost 2 GW in offshore wind capacity, announced in September that it plans to reach 6.5 GW by 2020.
