The boards of directors of the two energy companies SE and Eniig have concluded an agreement to merge under the name Norlys a.m.b.a.
The future Norlys a.m.b.a. will be one of Denmark's largest energy and telecommunications companies with 709,000 shareholders and electricity customers (30% of all Danish households) and more than 1 million broadband customers (42% of all Danish households).
The group's total revenue will amount to DKK 8bn and it will employ 2,500 persons.
SE and Eniig will merge as equals, with a view to achieving significant business synergies and developing potential.
The merger will be approved at extraordinary meetings of the committee of shareholders on 5 November, after which date the Danish competition authorities will process the merger application.
Thomas Weincke and Søren Toft Bjerreskov advised SE in connection with the contemplated merger.