The Danish power distribution and residential customer businesses are well-run and have a high level of customer satisfaction. However, they are not a sales channel supporting the company’s long-term international growth in renewables. Orsted's Board of Directors has therefore decided to initiate a structured process to assess the market interest in acquiring Orsted's Danish power distribution and residential customer businesses. The cut-off price to reach the second round of the auction was €2.5bn ($2.8bn). Enel, SEAS-NVE, ATP, OMERS, PKA, and CDPQ showed an interest and are lining up final bids. Final bids are expected around the second half of February. Orsted aims to pick a buyer by the end of June.