Presentation Transcript

1. SEAS-NVE and NRGi merge their fibre activities 20 June 2014 Historic merger between SEAS-NVE’s and NRGi's fibre activities Today, SEAS-NVE, Denmark's largest cooperatively owned energy and fibre company, and NRGi, one of Denmark’s largest energy companies, have announced that the two companies have entered into an agreement to merge their fibre activities. The joint company will be set up under the name of Fibia and will hold assets of DKK 2.5 billion. Fibia will be a leading player in the expansion of Denmark's digital infrastructure, which will ensure local, regional and national development and competitiveness for the benefit of the members of the cooperatively owned companies. Fibia, to be headquartered in Svinninge, will become the largest fibre net company in Denmark. The company will have more than 200,000 households and businesses with fibre network and more than 70,000 customers. Joining the fibre activities of the two companies will ensure both greater influence and increased competitiveness and generate considerable economies of scale for the benefit of the members. Chairman of the board of directors of Fibia will be Jesper Hjulmand, who is CEO of SEAS-NVE a.m.b.a, and Søren Sørensen, who is CEO of NRGia.m.b.a., will be vice-chairman. SEAS-NVE has 780 employees and is Denmark’s largestcooperatively owned energy and fibre company with 480,000 customers, of whom 375,000 are members. In 2013, SEAS-NVE had a turnover of DKK 3.3 billion and a balance sheet total of DKK 15 billion. With 1,200 employees and about 210,000 members, NRGia.m.b.a., is one of the largest energy companies in Denmark. In 2013, NRGi had a turnover of DKK 2.4 billion and a balance sheet total of DKK 5.6 billion. The merger is subject to approval by the competition authorities. Bruun & Hjejle’s legal advice on this merger and the setting up of Fibia emphasises Bruun & Hjejle’s focus on complex transactions involving regulated companies. For further information, please contact: Mogens Thorninger, Partner, + 45 33 34 52 30. About Bruun & Hjejle Bruun & Hjejle is a leading Danish law firm for complex transactions and disputes partnering with leading clients. Our strategic focus is on M&A, Banking & Finance, Real estate and Construction, Dispute resolution and Regulatory. We maintain a first class international network of firms as best friends. In recent years, we have advised 31 of the top 50 companies in Denmark, including 14 of the 24 OMXC Large Cap listed companies. We have also acted for several companies comprising the Euro Stoxx 600 index and the S&P 500 index in addition to international, non-listed companies in a variety of sectors. Our clients in the private equity segment include many large cap global funds and leading Nordic funds. We are 31 partners and approximately 190 employees. For additional information about Bruun & Hjejle, please visit www.bruunhjejle.com.