FIH Partners advised the shareholders of Danske Commodities on the divestment of the company to Equinor (previously Statoil).
Founded by Henrik Lind in 2004, Danske Commodities has developed into the leading independent European energy trader and service provider. Danske Commodities is trading financial and physical power and gas products in the intraday, day-ahead and forward markets both on exchanges and over-the-counter. Additionally, Danske Commodities offers energy market services comprising balancing, optimisation and hedging services to asset owners. The service portfolio includes management of more than 5,000 MW of renewable production.
Over the years, Danske Commodities has built a scalable trading platform, an unmatched presence with access to 37 European power and gas markets and recently entered markets outside of Europe.
For 2017, Danske Commodities reported revenue of EUR 5.5bn, EBIT of EUR 56m and EBT of EUR 60m.
The acquisition combines Danske Commodities’ leading market presence and expertise in energy trading with Equinor’s leading position in gas, growing portfolio in renewables and strong balance sheet. To Equinor, the transaction supports the move from being an upstream oil and gas company to becoming a broad energy company.
The enterprise value of the transaction is EUR 400m including a small contingent payment depending on Danske Commodities’ performance over the next couple of years.
FIH Partners acted as exclusive financial advisor to the owners of Danske Commodities.