Goldman sale reignites conspiracy theories in Danish parliament
Danish parliament again crying foul over Denmark’s biggest energy utility
When Goldman Sachs bought part of Denmark’s biggest energy utility three years ago, it triggered a political crisis that split the ruling coalition. Now, as the Wall Street bank sells roughly half that stake, some members of the Danish parliament are again crying foul. Goldman, through a Luxembourg-based vehicle, sold the equivalent of just over 6% of Dong Energy A/S for 6.5 billion kroner ($940m) on Friday. Back in 2014, Goldman paid 8 billion kroner for 18%. A stake that size would now fetch about 18.5 billion kroner. (Goldman still owns 7% of Dong.) In an angry statement, Pelle Dragsted, a spokesman for the opposition Left-Green Alliance, described the whole transaction as "hopeless" and the initial sale to Goldman as "scandalous." Meanwhile, an investigation into Goldman’s investment in Dong by Denmark’s national audit office is still under way. The purpose of that probe is to find out whether Dong was sold at too low a price in 2014. The political attention Goldman’s share sale...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.