DONG Energy and Shell UK have signed a Sales and Purchase Agreement to acquire Shell Gas Direct for GBP 30 mill. equivalent to approximately DKK 260 million. The acquisition will be completed in the coming months and DONG Energy will acquire 100% of the shares of Shell Gas Direct.
With an annual supply of around 2.5 billion cubic metres of natural gas, Shell Gas Direct is one of the UK’s largest gas sales and marketing companies. The company has approximately 100 employees and a business-to-business market share of 11%.
” The acquisition of Shell Gas Direct will provide us with a unique opportunity to enter the UK natural gas sales market. The company has a considerable customer portfolio and an experienced sales force that I look forward to welcoming to DONG Energy ”, says Executive Vice President Lars Clausen .
DONG Energy is already an established player in the UK with offshore wind farms, a gas-fired power station and oil and natural gas exploration. With the acquisition of Shell Gas Direct, DONG Energy will gain a fully integrated market position in UK.
Completion of the transaction is subject to final approval by the EU competition authorities.
[mappress] Source: DONG Energy, October 18, 2011