Goldman Sachs sells out of DONG shares
DONG Energy A/S has received information that New Energy Investment S.à.r.l. (NEI) has initiated an accelerated bookbuilding offering to institutional investors of 26,5 million existing shares in DONG Energy, which corresponds to 6,3 percent of the outstanding shares.
NEI is a company based in Luxembourg, which is indirectly owned by companies controlled by the Merchant Banking Division of Goldman Sachs Group, Inc. A second note will be issued on behalf of NEI, after bookbuilding and pricing of the transaction has been completed.
NEI has agreed to a lock-up period of 90 days from the date of this announcement, subject to dispense with the prior written consent of a majority of the number of those who are responsible for the bookbuilding process and with certain customary exceptions.
If all shares are offered in the transaction are sold, NEI will immediately after completion of the transaction, have a holding of 29,444,742 shares in DONG Energy, which represents approximately 7.0% of the share capital and voting rights in DONG Energy.
Furthermore, DONG Energy has informed that Martin Hintze, Managing Director of Goldman Sachs International and currently a member of DONG Energy's board does not intend to seek re-election at DONG Energy's next annual general meeting called in Copenhagen scheduled for March 2, 2017.
DONG Energy will not receive any proceeds from the transaction.
Source: DONG Energy / Maritime Denmark