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Goldman Sachs, ATP and PFA to Invest DKK 11 billion in Dong Energy A/S' New Shares


Wednesday, 2 Oct 2013 10:54am EDT 

Dong Energy A/S announced that the Danish State represented by the Ministry of Finance and DONG Energy A/S have reached an understanding with funds managed by the Merchant Banking Division of Goldman Sachs (Goldman Sachs) and the Danish pension funds Arbejdsmarkedets Till√¶gspension (ATP) and PFA Pension Forsikringsaktieselskab (PFA) on the main terms whereby Goldman Sachs, ATP and PFA will invest a total of DKK 11 billion in DONG Energy A/S by subscribing for new shares. Goldman Sachs will subscribe for new shares for DKK 8 billion, ATP for DKK 2.2 billion and PFA for DKK 0.8 billion. The subscription of new shares will be based on a valuation of DONG Energy A/S of DKK 31.5 billion prior to the capital increase. Goldman Sachs and ATP will be represented on the Board of Directors. The capital increase is part of DONG Energy's financial action plan announced in February 2013 which included an injection of additional equity of at least between DKK 6 billion and DKK 8 billion. 

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24 Jul 2014