Davis Polk advised SEAS-NVE A.m.b.A. in connection with the unregistered sale of 9,532,013 shares of common stock in Ørsted A/S, representing 2.27% of Ørsted’s share capital, by way of an accelerated bookbuild offering. The offering raised proceeds of approximately DKK 6.1 billion. Following completion of the sale, SEAS-NVE holds 5.01% of the shares in Ørsted.
SEAS-NVE is Denmark’s second-largest cooperatively-owned energy company with more than 390,000 cooperative owners. SEAS-NVE provides power to most of Zealand, owns a high-tech fibre network, and ensures service and maintenance of Denmark’s longest power grid. Ørsted is a Denmark-based energy company engaged in procuring, producing, distributing and trading energy and related products in Northwestern Europe. It is the largest power producer in Denmark and also owns power production facilities and projects in Germany, Sweden, the Netherlands, Norway and the United Kingdom.
The Davis Polk corporate team included partner Reuven B. Young and associate Serdar Inci. Both members of the Davis Polk team are based in the London office.