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OCTOBER 2013
Transactions
121
HoFoR acqUIRES aMaGER PoWER StatIon FRoM vattEnFaLL aB
vattenfall and danish municipal utility HoFoR have signed an agreement regarding the sale of vattenfall’s amager power station in denmark. HoFoR will take over the power station in copenhagen with all current employees and all related assets and liabilities.
The total transaction value is approx. DKK 2bn consisting of a cash consideration of DKK 415m as well as other debt items. The sale agreement was signed in July 2013 and the sale is expected to be completed by the end of December 2013.
Amager power station comprises of two combined heat and power units with a combined electrical capacity of 314 Megawatt and a combined heat capacity of 583 Megawatt. It is fuelled with coal and biopellets. In 2012, approximately 1,260 GWh electricity and 2,100 GWh heat were produced.
The existing contracts with customers will still be valid. Until the legal closing of the transaction, expected by end of December 2013, no changes will occur for employees, customers and suppliers.
The renewables and electricity sales businesses as well as fuel trading and research & development in Denmark will remain under the ownership of Vattenfall.
Bech-Bruun has advised Vattenfall in the sale of its CHP plant on Amager, Copenhagen, to the municipal utility HOFOR. The team was led by partner Jakob Kristensen working together with co-partner Jesper Rothe and the various specialist lawyers involved. LM
coIn co IntERnatIonaL
acqUIRES anGaL coLLEctInG BoXES and dESIGn
SmithBaker, a subsidiary of coin co International, has acquired angal collecting Boxes and design (acBd).
According to InsiderMedia.com, Alan Rolf, sole shareholder of Angal, said: "After 31 years in my stewardship, I believe it is the right time for me to step down and let others take the business further."
John Baker, joint owner of SmithBaker, commented: "We know Angal very well as we've been recommending them for around 15 years, so we were excited when the opportunity arose for us to acquire the company."
Howlett Clarke acted on behalf of SmithBaker on the transaction. LM
Amager power station
Angal Collecting Boxes and Design