The other owner, the Municipality of Herning, will keep its share of the activities, which will continue in a separate company. Concurrently, Dong Energy and the Municipality of Herning are selling the development company, EGJ Udvikling, to EnergiMidt.
The total price of the shares sold, amounts to approximately DKK186 million. The price of Dong Energy’s part of the divested shares totals approximately DKK108 million. The remaining combustion and biogas activities at EnergiGruppen Jylland (EGJ) will be continued by the Municipality of Herning and Dong Energy through the company, EnergiGruppen Jylland F&B.
This agreement reportedly ensures a good continuation of the water and heating activities within EnergiGruppen Jylland, in co-operation between the Municipality of Herning and EnergiMidt.
The sale is expected to be finalized in the second half of 2008 and results in an accounting profit before minority interests of around DKK90 million. The accounting profit after minority interests amounts to approximately DKK45 million.
