EnergyWatch

Goldman sale reignites conspiracy theories in Danish parliament

Wall Street Bank Goldman Sachs bought into Denmark's largest utility Dong Energy three years ago, prompting a political crisis in Denmark at the time. This conflict has now flared up again as the bank has sold half of its stake in Dong.

Photo: Richard Drew, AP/Polfoto

When Goldman Sachs bought part of Denmark's biggest energy utility three years ago, it triggered a political crisis that split the ruling coalition. Now, as the Wall Street bank sells roughly half that stake, some members of the Danish parliament are again crying foul.

Goldman, through a Luxembourg-based vehicle, sold the equivalent of just over 6 percent of Dong Energy A/S for 6.5 billion kroner (USD 940 million) on Friday. Back in 2014, Goldman paid 8 billion kroner for 18 percent. A stake that size would now fetch about 18.5 billion kroner. (Goldman still owns 7 percent of Dong.)

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