Acquisition of SEAS-NVE/Ørsted’s gas client portfolio and heat service company
MHS Corporate Finance acted as exclusive financial advisor to OK a.m.b.a. on the acquisition of SEAS-NVE/Ørsted’s gas client portfolio and heat service company
OK a.m.b.a., a Danish utility company, has acquired 107,000 gas clients and 44,000 heat service customers from SEAS-NVE and Ørsted.
OK’s acquisition of the gas client portfolio and heat service company takes place as part of SEAS-NVE’s 2019 acquisition of Radius Elnet, private client business and city light business from Ørsted which still awaits approval from the Danish Competition Authority and the Danish Energy Agency. Danish Competition Authority raised the divesture of the gas client portfolio and heat service company as a condition for the approval of SEAS-NVE’s acquisition.
For more information about the transaction, please visit here.
OK a.m.b.a. is a Danish cooperatively owned utility company with a revenue of more than DKK 9,900 million. OK is a nationwide supplier of gas, diesel, transport diesel, heating oil, electricity and natural gas to both private and business customers. Furthermore, OK also advises, plans and installs heat pump solutions in all sizes and is one of the largest suppliers of heat pumps in Denmark.
SEAS-NVE is a cooperatively owned utility company a revenue of DKK 7,300 million in 2018.