Latham & Watkins Advises Ørsted on DKK60 Billion Rights Offering

Latham & Watkins advised Ørsted A/S (Ørsted) on its rights issue to raise gross proceeds of approximately DKK60 billion (approximately €8 billion). The offering comprised 900,816,600 new shares at DKK66.6 per new share with pre-emptive rights for existing shareholders of Ørsted at the ratio of 15:7.

Ørsted is a renewable energy company with a market-leading position in offshore wind. With a vision to create a world that runs entirely on green energy, it aims to generate value for its shareholders, customers, and the societies in which it operates. Ørsted's strategy focuses on developing, constructing, operating, and owning offshore wind farms.

Latham advised on US and international securities matters with a team led by London corporate partner Ryan Benedict, with Frankfurt associate Jennifer Thiessen and Milan capital markets lawyer Irene Pistotnik. Advice was also provided on US regulatory and environmental law matters by Washington, D.C. partners Janice M. Schneider and Devin M. O’Connor, and on US tax matters by New York partners Eli Katz and Jocelyn Noll, Washington, D.C. partner Scott Cockerham, and Houston partner Bryant Lee, with New York associate Jacob Nagelberg and Los Angeles associate Jared Kawalsky.