A quick hit from Seeking Alpha via MSN:
Ørsted (OTCPK:DNNGY) is in talks to sell a 50% stake in its £8.5 billion Hornsea 3 wind farm off the U.K. east coast to Apollo Global Management (APO), the Financial Times reported Friday, as the world's largest offshore wind developer tries to shore up its balance sheet.
Ørsted (OTCPK:DNNGY) launched a sale process for Hornsea 3 late last year and said in August that it had found a preferred bidder for the stake, without revealing the identity; the FT report now says the negotiations are with Apollo (APO)....
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Ørsted seems to be making the right moves, cutting exposure here and in Korea, shoring up the balance sheet with cash etc. It might me late, as evidenced by the 67% discount that was required in the recent rights offering but it does seem to be planning to be around for a while.
For what it's worth the shareholders approved the rights offering and one of the larger existing shareholders seemed to like the pricing:
Nordic Solidarity: "Equinor to Subscribe for Orsted Shares Worth Up to $939 Million in Rights Issue"
