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Goldman Sachs to shed remaining Dong Energy stake

Gode Wind. Source: Dong Energy A/S (www.dongenergy.com)

October 11 (Renewables Now) - Goldman Sachs Group Inc (NYSE:GS) is selling all of its remaining 2.7% stake in Danish offshore wind-focused utility Dong Energy A/S (CPH:DENERG), the latter announced on Wednesday.

Luxembourg company New Energy Investment Sarl (NEI), which is controlled indirectly by Goldman’s merchant banking division, has launched an accelerated bookbuild offering of its 11.44 million existing shares in Dong Energy to institutional investors. More details will be available after the completion of the bookbuilding.

Dong Energy stressed that it will not receive any proceeds from this transaction. The company is majority owned by the Kingdom of Denmark.

NEI was Dong Energy’s second largest shareholder after the Danish company’s initial public offering (IPO) in Copenhagen last summer. At the time, NEI held an interest of 14.7% in Dong Energy. In February, the Luxembourg firm started selling off its ownership stake in portions.

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