By Max Bernhard 
 

RWE AG (RWE.XE) will continue to pursue a planned transaction to transfer its 76.8% majority stake in Innogy SE (IGY.XE) to E.ON SE (EOAN.XE) as part of an asset-swap deal, the company said Friday, following an Innogy announcement that a third party had expressed interest in its Czech business.

"RWE is convinced that the transaction agreed with E.ON offers the biggest potential with a view to rising to the challenges of the energy transition in networks, retail and generation," RWE said.

Innogy said earlier on Friday that it granted due diligence regarding its business activities in the Czech Republic following a request by an interested buyer.

According to German newspaper Handelsblatt, Australian investor Macquarie Group Ltd. (MQG.AU) is interested in some Czech assets of Innogy. Discussions with Macquarie are "in early stages," Handelsblatt reported, citing unnamed sources.

Innogy also said it had received expressions of interest for parts of its renewables, retail, and grid and infrastructure divisions.

"Discussions are at an early stage and at this point in time it is open whether and on what terms offers for individual business activities will be submitted," Innogy said.

In its statement on Friday, however, RWE said that "breaking up and selling Innogy in pieces is not an alternative."

Write to Max Bernhard at Max.Bernhard@dowjones.com

(END) Dow Jones Newswires

April 20, 2018 11:47 ET (15:47 GMT)