OilVoice - DONG Energy to Sell Its Shares in Swedegas AB to EQT

DONG Energy to Sell Its Shares in Swedegas AB to EQT

Thursday, December 17, 2009

DONG Energy has, together with its co-owners of the Swedish company Swedegas, reached an agreement to sell its shares to EQT Infrastructure Fund. DONG Energy owns 20.4% of the shares in Swedegas. The other owners are Statoil ASA, Fortum and E.on Ruhrgas.

Swedegas is the main energy gas transmission company in Sweden. The company's transmission network is located on the west coast of Sweden, covering 390 km from Dragør in Denmark to Stenungsund in Sweden. In 2008 the company's sale revenues were SEK 218 mio. (approximately EUR 21 million). The company has 24 employees. Swedegas' headquarter is located in Gothenburg.

The sale of Swedegas is part of DONG Energy's overall optimization of the business portfolio.

The completion of the transaction is subject to the approval of competition authorities of Sweden which is expected within 2010. DONG Energy will generate a small profit from the divestment of the shares in Swedegas AB, which will be reflected in the forecast for the profit after tax for the financial year 2010.

As the approval from the Swedish competition authorities is not expected in 2009 the transaction will not change the previous financial guidance for the financial year 2009 or the expected investment level.

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