Andel's board and management have decided to participate in Ørsted's capital increase by purchasing new shares for three billion kroner, thereby maintaining the group's current ownership stake of five percent.
The group announced this in a statement.
- We see it as a responsible ownership decision to help Ørsted secure the necessary development power to deliver global CO? reductions. At the same time, it is important for us to support Ørsted's Danish infrastructure and energy production, says Jesper Hjulmand, Group CEO of Andel.
He emphasizes that Andel, as a cooperative, thinks long-term and patiently in its investments. By participating in the capital increase, Andel helps stabilize Ørsted and protect the value of the group's strategic assets.
- If we remain on the sidelines, our ownership stake will be greatly diluted and lose a lot of value. We believe that the value and potential of Ørsted is greater than the share price and results currently reflect, says Jesper Hjulmand.
Andel considers the Ørsted shares to be part of the Energy Production business area.
The decision to participate in the capital increase affects the group's capital resources for future investment decisions on new renewable energy production such as Danish solar cell projects and offshore wind tenders.
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