DONG, Inter Pipeline postpone Oil Terminals deal
Danish state-owned oil and gas group DONG Energy said on Friday it had agreed with Canadian Inter Pipeline Fund to postpone a 2.6 billion Danish crowns ($456.95 million) acquisition of one of Dong's oil terminal assets, Reuters reports.
The utility said in a statement Inter Pipeline Fund should have acquired DONG Energy Oil Terminals for 2.6 billion crowns later this year, but that the deal would now be closed in the first quarter of 2012.
The delay would postpone the net gain effect of the transaction until 2012 but would not otherwise change DONG Energy's previous financial guidance for earnings before interest, taxation, depreciation and amortisation) EBITDA for the 2011 financial year or the announced expected investment level, DONG said.
The utility said in a statement Inter Pipeline Fund should have acquired DONG Energy Oil Terminals for 2.6 billion crowns later this year, but that the deal would now be closed in the first quarter of 2012.
The delay would postpone the net gain effect of the transaction until 2012 but would not otherwise change DONG Energy's previous financial guidance for earnings before interest, taxation, depreciation and amortisation) EBITDA for the 2011 financial year or the announced expected investment level, DONG said.
