NGF Nature Energy Holding A/S and Energinet have concluded an agreement concerning sale of NGF Nature Energy Distribution A/S to Energinet at a price of DKK 580 million. NGF Nature Energy Distribution A/S owns, monitors and maintains the natural gas network in Funen, which supplies gas to more than 30,000 homes.

NGF Nature Energy Holding A/S (previously Naturgas Fyn) is jointly owned by eight municipalities in Funen and has been municipally owned since 1979 when natural gas was introduced.

The purchase originates from the government’s wish to unite and improve the efficiency of the Danish gas distribution network under one state-owned company. The purpose is to improve the efficiency of the gas sector and to realise a consolidation and efficiency potential to the benefit of Danish consumers of more than DKK 100 million each year. The sale of the gas network was approved by the eight municipalities in Funen after a political decision-making in December 2017, and the sale has now been finally concluded. A number of formal conditions still remain to be settled before the sale is final, including approval by the Competition and Consumer Authority.

NGF NATURE ALSO SELLS COMMERCIAL ACTIVITIES

NGF Nature Energy Holding A/S has also completed a sale of the Nature Energy group’s commercial activities. Read more about the sale here: Funen municipalities sell Nature Energy.

Horten has assisted with legal advice on all aspects of the transactions.

contacts

Søren Hornbæk Svendsen

Partner

Thomas Francis Beckett

Partner

Rikke Søgaard Berth

Partner

Jonas A. Gramstrup

Attorney