Sep. 8 at 8:11 PM
Danish energy company Andel Holding A/S is selling a stake in wind farm operator Orsted AS worth about 3 billion Danish kroner (
$467 million), roughly the same amount it invested in Orsted’s capital increase a year ago. Andel plans to reduce its stake to approximately 3.4% from 5% through an overnight accelerated share sale, with demand reportedly covering the offering shortly after books opened.
Andel, Orsted’s third-largest shareholder, will remain a significant investor after the transaction. The sale comes one year after Andel backed Orsted’s 60 billion Danish kroner capital raise to strengthen its balance sheet. Orsted shares have since recovered as the company avoided further setbacks in the U.S. and investor confidence improved.
The transaction allows Andel to realize part of its investment following Orsted’s recovery while maintaining exposure to the offshore wind operator.
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