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Dong Energy A/S Divests Stake In Swedish hydro Power Company Kraftgarden AB To Three Finnish Energy Companies

Thursday, 27 Jun 2013 07:02am EDT 

Dong Energy A/S announced that it has signed and completed an agreement with Voimapiha AB, a consortium consisting of the three Finnish energy companies Kymppivoima, EPV Energy and Helsingin Energia, under which Voimapiha AB will acquire DONG Energy's entire ownership stake of 25.673% in the Swedish hydro power company Kraftgarden AB. DONG Energy has owned Kraftgarden AB as a joint venture together with Vattenfall since 1994. Kraftgarden AB owns and operates seven hydro power plants along the Swedish river Indalsalven, with a total capacity of 626 megawatt. The aggregate sales price (enterprise value) for the 25.673% ownership interest is SEK5.2 billion (equivalent to approx. DKK4.5 billion or EUR 605 million). 

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17 Sep 2014