Deals
Oil Unit Without Buyers Leaves Dong CEO Facing Rough IPO Path
- No buyers for E&P division amid oil price slump, CEO says
- Sydbank says IPO now harder as Dong will look less streamlined
This article is for subscribers only.
As Denmark prepares what may be the country’s biggest initial public offeringever, the hurdles are piling up.
Dong Energy can’t find a buyer for the oil unit analysts say should be sold off to give the state utility the best IPO price. On Tuesday, Dong wrote down the exploration and production unit by $2.3 billion.