We See Other Value Levers After Danish Government Blocks Sale of Orsted's Distribution Business
On Jan. 13, Orsted announced that the Danish government no longer supports the divestment process of its Danish power distribution, retail, and city light businesses. As the state is the majority shareholder with 50.1% of the capital, this means the disposal is scrapped. This is surprising, as the disposal had been approved by Orsted's board of directors in June 2018 and there was already a restricted list of potential buyers, including pension funds. This is also disappointing for us as we inco...Orsted is a renewable energy company based in Denmark. Co. is engaged in developing a renewables portfolio based on competences in offshore wind, bioenergy, and energy solutions. Co. is active in deploying offshore wind and converting existing coal- and gas-fired power stations to sustainable biomass, providing a heat and power supply which is both green and flexible. Co. divides its operations into four businesses: Wind Power, Bioenergy & Thermal Power, and Distribution & Customer Solutions. The Bioenergy & Thermal Power and Distribution & Customer Solutions businesses jointly constitute Co.'s Danish utility business. Co. maintains activities primarily in Northwestern Europe.
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