Dong To Get $1.1B For Half Its Stake In Giant UK Windfarm

Law360, New York (January 31, 2014, 5:27 PM EST) -- Dong Energy is selling half of its 50 percent stake in British offshore wind farm London Array 1 to La Caisse de depot et placement du Quebec for 644 million pounds ($1.1 billion), the companies said Friday, upping the number of investors to four.

The deal is expected to be completed in the first half of 2014. Upon the transaction's closing, Denmark-based Dong will relinquish its position as the project's largest investor to German power and gas company E.ON SE, which holds a 30 percent stake....
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