In the midst of its takeover battle with Vattenfall for control of Elsam, Danish oil and gas giant DONG has reached a deal with the City of Copenhagen to acquire the electricity activities of Koebenhavns Energi for Dkr 4.7 billion (€631 million). Under the terms of the deal, DONG will also take control of City of Copenhagen’s 34% stake in Energi E2 for Dkr 5.8 billion (€779 million). At least one third of the total purchase price will be settled in cash.
