September 18, 2019 / 10:54 AM / a month ago

Orsted to sell its Danish power businesses for $3.2 billion

COPENHAGEN, Sept 18 (Reuters) - Orsted has agreed to sell its Danish power distribution and retail businesses to energy firm SEAS-NVE for 21.3 billion Danish crowns ($3.15 billion) on a cash and debt-free basis, the Danish utility said on Wednesday.

Orsted put the businesses up for sale in June 2018 to focus on international renewable energy operations and is counting on the proceeds to help fund planned capital expenditure of 200 billion Danish crowns through 2025.

$1 = 6.7574 Danish crowns Reporting by Stine Jacobsen; editing by Jason Neely

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