SEAS-NVE completed the acquisition of Ørsted’s Danish power distribution, residential customer and outdoor lighting businesses $3.1bn.

SEAS-NVE, that generates, purchases, transmits, and distributes electricity, completed the acquisition of Ørsted's Danish power distribution residential customer and City Light businesses for $3.1bn. “With Ørsted’s global expansion in renewable energy, we’re no longer the right owner of Radius and the Danish residential customer and City Light businesses. We’re therefore happy to enter into an agreement with SEAS-NVE, which is Denmark’s second-largest cooperatively-owned energy company, to buy these businesses. The agreement ensures an attractive transaction for Ørsted’s shareholders and provides a good future home for the customers and for our highly skilled employees. We’ll use the proceeds from the divestment to continue our global investments in green energy.” Henrik Poulsen, Ørsted CEO and Presiden. SEAS-NVE announced that over the coming 12 months, the company would reduce its ownership interest in Ørsted. SEAS-NVE plans to remain a significant shareholder in Ørsted with an ownership interest of approximately 5%. The sale of shares today is thus a step in this direction.