Dong denies A2Sea sale

DENMARK: Dong Energy has said it is not in the process to sell its stake in offshore installation company A2Sea.

by David Weston 30 June 2014

Dong has denied its stake in A2Sea is up for sale

Contradicting reports in the Danish press, a Dong spokesperson told “uåX˜äŠÊ˜·³Ç: "We are not on a sales process divesting A2SEA, nor CT Offshore."

In an interview with Danish business newspaper , Dong executive vice president Samuel Leupold said the company might listen to offers for the services firm.

"A2Sea is a good company, it makes money. [If] anyone says that they can create more value in this company than we can they are welcome. Why should we not discuss it?" Leupold explained.

The Danish utility bought A2Sea in 2009 for DKK 700 million and currently has a 51% stake in the company, with German engineering company Siemens holding the remaining 49%.

A2Sea has been contracted to install many of Dong's offshore projects in including the 630MW London Array in the North Sea.

Leupold is reported to have said the company would avoid further investing in other service companies, "I do not think that is our role to invest in subcontractors," he said.

In a far-reaching interview, Leupold also told Børsen offshore wind farms need to be "gigantic" in order to bring the cost of energy down.