July 11 A state-owned Qatari entity has held
initial talks with German utility RWE about buying its
DEA oil and gas exploration and production unit, the Wall Street
Journal reported on Thursday, citing two people familiar with
RWE in March said it was planning to sell DEA in a move to
slash capital spending and cut its debt pile, with sources and
analysts valuing the unit at about 5-8 billion euros
Until now, BASF group's oil and gas arm
Wintershall seemed to have been the only company to have
expressed an interest in buying DEA and RWE has said that it
does not expect the unit to be sold this year.
Qatar's initial talks to buy DEA are unlikely to proceed
quickly, the Journal reported, particularly given the recent
handover of power by former Emir Sheikh Hamad bin Khalifa
al-Thani to his son Sheikh Tamim.
But the Journal reported that RWE would like to attract
numerous bids for DEA and seemed willing to give Qatar more
One of the people familiar with the matter told the Journal
that the state-owned entity that had held talks with RWE was
sovereign wealth fund Qatar Investment Authority.
RWE's DEA unit and the Qatar Investment Authority could not
be immediately reached for comment outside regular business
hours. RWE declined to comment further on the DEA sale process
to the Wall Street Journal.