SEAS-NVE has successfully sold 9.5m shares in Ørsted A/S, corresponding to 2.27% of the outstanding share capital, to institutional investors through an accelerated bookbuild (ABB). The transaction amounted to DKK 6,148m or USD 919m and the placing was done at a discount to last close of 2.57%
The background for the sale of shares is that on 18 September 2019, SEAS-NVE entered into an agreement with Ørsted to acquire Radius Elnet, Ørsted’s residential customer business and outdoor lighting business. Simultaneously, SEAS-NVE announced that over the coming 12 months, the company would reduce its 9.54% ownership interest in Ørsted towards approximately 5%. The first step was taken with the placing in November 2019 and this transaction marks the final step towards the announced bring down in ownership.
FIH Partners acted as financial advisor to SEAS-NVE.
