DONG Energy Gets $2B Capital Boost from Goldman Sachs, Funds

DONG Energy Gets $2B Capital Boost from Goldman Sachs, Funds

Reuters

COPENHAGEN, Oct 2 (Reuters) - Danish state-owned oil and gas group DONG Energy said funds managed by Goldman Sachs and two Danish pension funds, will invest 11 billion Danish crowns $2 billion in the group in return for new shares.

Goldman Sachs will subscribe for new shares worth 8 billion crowns, Arbejdsmarkedets Tillægspension (ATP) for 2.2 billion and PFA Pension Forsikringsaktieselskab (PFA)for 0.8 billion. This would value the company at 31.5 billion crown prior to the capital increase, the group said in the statement.

The parties have agreed to seek an initial public offering (IPO) of DONG Energywhen conditions are right, it said.

Copyright 2017 Thomson Reuters. Click for Restrictions.

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