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Market Chatter: Andel to Sell $467 Million Stake in Wind Developer Orsted

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Danish energy firm Andel Holding is seeking to sell a stake worth about 3 billion Danish Krone ($466.7 million) in wind farm developer Orsted, just a year after investing the same amount in the company's capital raise, Bloomberg reported, citing transaction terms.

Andel will sell the stake through an overnight accelerated bookbuilding process, reducing its holding in Orsted to about 3.4% from 5%. Despite the divestment, Andel will remain Orsted's third-largest shareholder.

The transaction comes about a year after the firm participated in Orsted's 60 billion Danish Krone rights issue.

Orsted did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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