FIH Partners advised SEAS-NVE on the acquisition of Ørsted’s power distribution business (Radius) as well as Ørsted’s residential customer and city light businesses for a total consideration of DKK 21.3 billion. The transaction is subject to regulatory approvals by the competition authorities and the Danish Energy Agency. Closing of the transaction is expected to take place in first half of 2020.
Radius is supplying approximately one million end users in the Copenhagen area, North Zealand and parts of Central Zealand through a power grid of approximately 19,000km. The residential business sells electricity to approximately 717,000 customers and gas to approximately 106,000 customers. The city light business operates and maintains approximately 145,000 street lights in 15 municipalities on Zealand.
The acquisition is anchored at a strong strategic rationale, and through this transformational transaction, SEAS-NVE will continue the consolidation of the Danish grid network and secure continued Danish consumer-ownership of critical Danish infrastructure.
FIH Partners acted as exclusive financial advisor to SEAS-NVE A.m.B.A