Report: Dong Energy selling E&P business?

Bloomberg on Friday reported that Danish energy company DONG Energy hired advisors to explore a potential spin-off or sale of its oil and gas exploration and production E&P business.

Following the article, which Bloomberg wrote citing anonymous sources, DONG Energy issued the following statement:

“It is DONG Energy’s policy not to comment on market speculation. However, as previously made public, DONG Energy confirms that, in connection with the capital injection in DONG Energy in February 2014, it was agreed to prepare a plan for DONG Energy’s continued development ahead of a potential IPO. DONG Energy further confirms that the said process has been initiated and that J.P. Morgan has been engaged to advise on it.”

“The process is still at an exploratory stage and is not expected to be completed before the second half of 2015. At this point, different scenarios are being
investigated, but no decisions have been made. DONG Energy will make market announcements as and when final decisions may have been taken.”

 

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