Andel to Sell Ørsted Stake for $467 M

Andel to sell Ørsted stake for $467 m

Andel Holding A/S announced that it will dispose of a shareholding in Ørsted AS through an overnight accelerated share sale. The stake is valued at approximately 3 billion Danish kroner, equivalent to US$467 million. The disposal will lower Andel’s ownership from about 5 % to roughly 3.4 % of Ørsted, but Andel will remain Ørsted’s third‑largest shareholder after the transaction completes. The sale follows a capital‑raising episode a year earlier in which Andel contributed the same amount of DKK 3 billion to Ørsted’s 60 billion DKK share issue that was undertaken to strengthen Ørsted’s balance sheet. Since that capital raise, Ørsted’s share price has recovered, aided by the company’s avoidance of further setbacks in the United States. Demand for the accelerated share sale was sufficient to cover the offering size shortly after order‑taking began.