Danish authorities approve Ørsted divestment

Source: press release, 24 June 2020

photo: Ørsted
photo: Ørsted

On 18 September 2019, Ørsted announced that the company had signed an agreement to divest its Danish power distribution business (Radius) as well as its residential customer and city light businesses to SEAS-NVE. The transaction was subject to approval by the Danish competition authorities and the Danish Energy Agency. Both authorities have now approved the transaction.

With the approval by the authorities, the transaction is expected to be fully completed on 31 August 2020.

The information provided in this announcement does not change Ørsted’s previously announced guidance and expected investment level for the 2020 financial year.