Goldman Sachs plans to sell DONG shares

Goldman Sachs plans to sell DONG shares

31-08-2017 12:00:00

The US investment bank Goldman Sachs has put 7,5 million shares in DONG Energy up for sale, DONG announced in an announcement to the stock exchange on Wednesday night. The sale is through New Energy Investment S..r.l. (NEI), indirectly owned by Goldman Sachs.

"NEI has initiated an accelerated bookbuilding offer to institutional investors of 7,500,000 existing shares in DONG Energy, which corresponds to 1,78 percent of existing shares in DONG Energy to institutional investors at a price of DKK 321 per share..

NEI is a company located in Luxembourg, which is indirectly owned by companies controlled by Merchant Banking Division of Goldman Sachs Group, Inc.," DONG Energy wrote in the announcement.

NEI has accepted a lock-up period of 60 days from the date of the notice, subject to waiver with prior written consent from one of the persons responsible for the bookbuilding process and with certain usual exceptions.

If all offered shares are sold, NEI will hold 11,435,215 shares in DONG Energy after completion of the transaction, which corresponds to 2,7 percent of existing shares in the company.
DONG Energy does not receive any proceeds from the transaction.

Source: DONG Energy / Maritime Denmark

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