Acquisition of Københavns Energi (incl. 34 per cent stake in Energi E2) (DK) by DONG (DK) — DKK 10.5 billion

Carnegie acted as sole financial adviser to DONG in the acquisition of Københavns Energi (incl. 34 per cent stake of Energi E2). Energi E2 is the second largest producer of electricity and heat in Denmark.May, 2006.