DONG Energy will increase its share capital by DKK 11bn (about €1.5bn), with Goldman Sachs and the Danish pension funds Arbejdsmarkedets Tillægspension (ATP) and PFA Pension Forsikringsaktieselskab (PFA) subscribing for new shares. Goldman Sachs will subscribe for new shares for DKK 8 bn (€1.1bn), ATP for DKK 2.2bn (€295m) and PFA for DKK 0.8bn (€110m). The subscription of new shares will be based on a valuation of DONG Energy at DKK 31.5bn (€4.2bn) prior to the capital increase. The agreement will result in the Danish State’s ownership interest in DONG Energy being reduced from approximately 81% to approximately 60% and the total ownership interest of the existing minority shareholders being reduced from approximately 19% to approximately 14%. The ownership interests of the new investors will be as follows: Goldman Sachs approximately 19%, ATP approximately 5% and PFA approximately 2%.
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