Dong signs for Goldman investment

The Goldman Sachs building in Jersey City, US

The Goldman Sachs building in Jersey City, US

Dong today signed a legally-binding investment agreement that will see Goldman Sachs and two Danish pension funds invest DKr11bn ($2bn) in the Danish utility, as expected.

All that remains is for the Danish Parliament’s Finance Committee to sign off the deal.

In early October Dong, the world’s leading offshore wind developer, announced the deal, which will see the Danish government’s stake shrink to 60% from 81%.

US investment bank Goldman Sachs will get a 19% stake for its DKr8bn investment, while Danish pension funds ATP and PFA will invest DKr2.2bn and DKr800m, respectively.

The deal values Dong at DKr31.5bn before the capital increase.

“The new equity entails that we can carry out our growth strategy, including our significant investment programme within offshore wind,” says Dong chairman Fritz Log in to read complete article.

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