RWE's Options to Exit Innogy Include Deal With Enel -Reuters
November 20 2017 - 3:00AM
Dow Jones News
--German utility RWE AG is looking at ways to cut its 16.8
billion euro ($19.8 billion) stake in subsidiary Innogy, Reuters
reports.
--This could involve a deal with Italy's Enel SpA, Europe's
largest utility by market value, says Reuters.
--Enel CEO Francesco Starace said earlier this month that the
company had to grow its core distribution business, fueling talk of
acquisitions, despite previous comments that he saw big utility
deals in Europe as destroying value for shareholders, according to
Reuters.
--RWE previously said there was no need to sell its 76.8% stake
in Innogy, given the steady dividend it gets from the company's
networks, says Reuters.
Full story: http://reut.rs/2zWOAom
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(END) Dow Jones Newswires
November 20, 2017 03:45 ET (08:45 GMT)
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