Eniig proposes merger with Stofa owner SE as Norlys

Thursday 11 October 2018 | 15:19 CET | News

Danish regional energy groups Eniig and SE have agreed to merge as equals under the name Norlys, with a view to achieving synergies and developing potential. SE includes broadband company Stofa and TV service supplier Boxer Denmark, and used to trade under the name Syd Energi. Eniig was formed in 2016 by the merger of EnergiMidt with Aalborg's Himmerlands Elforsyning (HEF).

Eniig operates in northern and central Jutland, and SE in northern and southern Jutland. Norlys will have about 709,000 shareholder-customers and a workforce of approximately 2,500. Eniig had set up the OpenNet wholesale division in March 2018 and then in May, it agreed with SE that they would grant access to each other's fibre grids, inviting others providers to join them on equal terms. The consolidation also follows the takeover of major player TDC by a private consortium and its split into a network company and a services arm.

SE board chairman Jens Erik Platz now says the Norlys combination will provide the ability to invest in digitisation and "green" electricity transformation. His counterpart at Eniig, Jan Skytte Pedersen, said the fusion will give Norlys a significant position in the power and telecoms market. It will increase their scale, profitability and ability to compete in terms of prices. The telecoms sector in particular is facing competition and rapid development, he said. The two parties aim to offer universal broadband access by the end of 2023.

Assuming the merger gains approval, then SE CEO Niels Duedahl will become CEO of Norlys with Eniig's Martin Romvig as his deputy. SE will appoint the board chairperson and Eniig her or his deputy. Norlys would have its headquarters in Silkeborg, with Aalborg acting as its centre for commercial energy trading, Esbjerg for power supply, and Aarhus and Sonderborg for internet and television. Norlys would still have other offices spread around the country.

The merger will be put to the companies' representatives at an extraordinary meeting on 05 November.

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Categories: Fixed
Companies: Boxer / EnergiMidt / Eniig / Stofa
Countries: Denmark
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