Ørsted finalizes sale of Radius, residential customer and City Light businesses
Ørsted has finalized the divestment of its Danish power distribution business (Radius), residential customer business, and City Light business to SEAS-NVE for DKK21.4 billion (US$3.4 billion).
As part of the transaction, approximately 750 employees have been transferred from Ørsted to SEAS-NVE.
Radius has approximately one million power customers in the Copenhagen area, North Zealand, and parts of central Zealand. The power supply to the customers is delivered through a grid reaching approximately 19,000km.
The residential customer business sells electricity to approximately 717,000 customers, gas to approximately 105,000 customers, and has approximately 44,000 heat customers.
The City Light business operates and maintains approximately 145,000 street lights in 15 municipalities on Zealand.
