RWE says streamlines Czech operations
FRANKFURT Dec 19 (Reuters) - German utility RWE said it was streamlining its operations in the Czech Republic, creating two separate units for its gas and sales operations in the country.
As part of the process, funds managed by Macquarie will acquire E.ON's, SPP's and GDF Suez' stakes in RWE's regional gas companies VCP, SMP and JMP, RWE said on Wednesday.
Macquarie would then swap those stakes for a 35 percent stake in RWE Grid Holding, which will comprise RWE's Czech gas distribution activities. RWE will also receive cash as part of that swap. (Reporting by Victoria Bryan)
- Study of smoking cancer patients fuels e-cigarette debate
- Alibaba IPO ranks as world's biggest after additional shares sold
- Islamic State closes in on Syrian town, refugees flood into Turkey |
- Exclusive: Iran seeks give and take on Islamic State militants, nuclear program
- Accused White House intruder is decorated Iraq war veteran