Avanta Serviced Office : Vattenfall divests Danish power plant

Vattenfall is selling its CHP-plant Fyn Power Station in Denmark to Fjernvarme Fyn in line with group strategy to divest non-core assets and to decrease CO2 exposure. Denmark remains a core Vattenfall market for renewable energy production. Danish district heating company Fjernvarme Fyn will purchase Fyn Power Station including a waste incineration plant for an enterprise value of DKr1.1bn, approximately SKr1.4bn. The sales price consists of DKr600m, approximately SKr760, in cash consideration and takeover of decommissioning obligations and environmental liabilities. The transaction is expected to be completed by 1 January 2015. Story provided by StockMarketWire.