Danish state-owned oil and gas group Dong has all but completed its bid for control of electricity group Energi E2 with the acquisition of a further 24% stake from SEAS/NVE. The share swap deal followed a series of moves including the acquisitions of electricity business of Copenhagen Energi, and its 34% stake in Energi E2 for a total of DKK 10.5 billion (€ 1.41 billion), a 3.6% stake in Energi E2 from four Danish municipalities for DKK 617 million (€ 1.41 billion) and a further 2.26% from Frederiksberg Municipality for DKK 384 million (€ 1.41 billion). The remaining 36% of Energi E2 is owned by Elsam, in which Dong also now holds a majority stake.
The latest acquisition requires the approval of both the SEAS/NVE board and Danish competition authorities.
