Vattenfall to become strategic owner in Elsam
Following an offer to purchase shares from an owner consortium in the Danish utility Elsam, Vattenfall AB has received acceptance letters for 35 per cent of the shares. The purchase sum will amount to approx. DKK 8.5 billion. Through this acquisition, Vattenfall will become the single largest shareholder in Elsam.
“Today, we have successfully taken the first step in a solid position in Elsam and are ready to take our responsibility as the company’s single largest shareholder. With our experience on competitive European markets, Vattenfall will, as a strategic owner, strengthen Elsam’s leading position in Denmark. The industrial logic of this combination is compelling and it will create new opportunities for Elsam’s employees and the customers in Denmark”, says Vattenfall President and CEO Lars G. Josefsson. The deadline for acceptance expires today at 15:00h. The acceptance letters are subject to approval by supervisory boards. Elsam A/S is Denmark’s leading producer of electricity and heat with activities both within Denmark and abroad. Operating mainly on Jutland, Elsam operates coal- and waste-fired cogeneration plants with a total capacity of more than 3,600 MW. Its 417 MW wind-power generation makes Elsam one of Scandinavia’s largest wind-power operator. For further information, please contact: Lars G. Josefsson, President & CEO, phone: +46 (8) 739 50 05 Mikael Kramer, Head of Mergers & Acquisitions, phone: +46 (8) 739 65 09 Martin May, Head of Group Media Relations, phone: +46 (8) 739 52 70 From Vattenfall's Press Office, telephone: +46 8 739 50 10.