Seeking Alpha

Goldman nears purchase of stake in Danish utility

  • Goldman Sachs' (GS -1.2%) private equity unit is leading a group close to buying a stake in Denmark's largest utility, reports Bloomberg. A source says the consortium will pay more than $1.5B for  about a 20% stake in Dong Energy.
  • Denmark's government put the stake on the block last winter amid a restructuring following losing bets on natural gas. At issue in negotiations, according to sources, is an exit plan for the buyers - they'd like to sell back to the government or have a timetable for an IPO.
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