Below is written ”Discription of Task” from the original tender of December 2015. It is noted that these are historical information: ”1) Objective The general objective of the task is to provide financial counsel and fairness opinion for Energinet.dk’s acquisition of DONG Energy A/S gas distribution and oil and gas pipelines, Including Nybro Gas Treatment Plant. 16.7.2018 eu-supply.com
https://eu.eu-supply.com/ctm/Publication/TedS09/F20Modification/166463/10/24724 2/5 II.2.7) II.2.13) V.2) V.2.1) V.2.2) 2) Specific tasks Energinet.dk is owned by the Danish minister of energy, utilities and climate on behalf of the Danish government. In relation to the IPO of DONG Energy A/S it has been decided that Energinet.dk is to acquire DONG Energy A/S following assets: 1) Gas distribution 2) Oil pipeline 3) Gas pipeline, including Nybro Gas Treament Plant Energinet.dk has been given a mandate by the minister of energy, utilities and climate to negotiate the terms of the acquisition for each of the above listed assets. The minister’s involvement in the acquisition of each asset is twofold: 1) Halfway through the negotiations Energinet.dk is to submit an indicative price to the Minister for the asset. 2) Ultimately the minister needs to approve the valuation and terms of the acquisition. The specific tasks for the consulting firm in relation to each of the three assets are to provide financial advice to the ministry at the above mentioned involvement stages. This includes: 1) Evaluate the indicative price; 2) Conduct a fairness opinion of the valuation. The consulting firm must assess whether the valuation forming the basis of the indicative price and the final bid has been carried out in accordance with best practice. When doing so it must also be ensured that no state aid has been granted to DONG Energy A/S and that the valuation of the gas distribution system is in accordance with the principles of expropriation. The service provided should also consist of continual participation in meetings and continuous counseling with the Ministry, Energinet.dk and the law firm Poul Schmith. It is a requirement that the consulting firm can declare itself independent from other interests in relation to DONG Energy A/S and Energinet.dk. Organisation and timeline The cooperation organisation will be established at a kick-off meeting with the winning consultancy. The consulting firm will be expected to participate in meetings with Energinet.dk and the law Firm Poul Schmith continually in the process to get an understanding of the conditions of the acquisition from late December 2015 and until the final approval expected in May/June 2016 (for the oil pipeline and gas distribution). The process with acquiring DONG Energy A/S gas pipeline is expected to start up shortly after the closing of the oil pipeline and gas distribution acquisitions. The expected end date for closing of the gas pipeline acquisition is late 2016. A summary of the timeline is as follows: 1) Oil pipeline – indicative price Feb/Mar 2015 – signing April/May 2015. 2) Gas distribution – indicative bid April 2015 – signing May/Jun 2015. 3) Gas pipeline, including Nybro Treament Plant – start up mid 2015 – closing late 2016.”