Key Developments: RWE AG (RWEG.DE)

RWEG.DE on Xetra

11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

FPT to acquire RWE IT Slovakia from RWE AG
Thursday, 19 Jun 2014 06:22am EDT 

FPT Corp:On June 18, FPT signed an agreement with RWE AG to fully acquire RWE IT Slovakia.RWE IT Slovakia will become a wholly owned subsidiary of FPT Software, a subsidiary of FPT, and be renamed FPT Slovakia.RWE IT Slovakia provides information technology services, mainly SAP and Smart Home solutions, for RWE AG.  Full Article

RWE AG to build 37 MW solar park in Britain - Reuters
Wednesday, 23 Apr 2014 03:29am EDT 

RWE AG:Plans 37 megawatt (MW) solar park in Britain, expanding its presence in renewable energy - Reuters.Kencot Hill Solar Firm - located on disused airfield in Oxfordshire, England - is expected to come online in late summer 2014 and to power about 10,000 households with electricity.RWE has appointed solar group Conergy to build park.Upon completion, park to be sold to Foresight Solar Fund Limited, managed by UK-based infrastructure asset manager Foresight Group.No financial details were disclosed.  Full Article

RWE AG signs credit agreement for 4 billion euros
Monday, 31 Mar 2014 08:00pm EDT 

RWE AG:Signs new credit agreement for 4 billion euros.Syndicated credit line replaces existing agreement, also for 4 billion euros, and is intended to secure group’s liquidity.RWE is taking advantage of market environment to improve its financing conditions.Credit line is made available by international banking consortium for initial term of five years, with option to renew it twice for year at time.  Full Article

RWE AG and LetterOne Group sign contract for sale of RWE Dea
Thursday, 27 Mar 2014 08:00pm EDT 

RWE AG:Signs contract for sale of RWE Dea AG at enterprise value of around 5.1 billion euros.Says enterprise value includes around 0.6 billion euros in assumed liabilities.Transaction expected to close later this year.  Full Article

RWE AG and LetterOne Group agree on sale of RWE Dea
Sunday, 16 Mar 2014 11:38am EDT 

RWE AG:Says together with LetterOne Group agrees terms for sale of RWE Dea AG at enterprise value of ca. 5.1 billion euros and on contractual conditions.Conditions to clarify further details shortly in order to enter into sale and purchase agreement.Enterprise value includes ca. 0.6 billion euros in assumed liabilities.Transaction expected to close later this year.  Full Article

RWE AG issues FY 2014 outlook in line with analysts' estimates and to propose dividend for FY 2013
Monday, 3 Mar 2014 07:00pm EST 

RWE AG:Says difficult market conditions for conventional power stations will clearly leave their mark on consolidated financial statements for FY 2014.Says FY 2014 operating result will be far below 2013 level.FY 2013 operating result of 5.881 billion euros.Expects operating result of between 4.5 and 4.9 billion euros for FY 2014.FY 2014 operating profit estimate 4.763 billion euros - Thomson Reuters I/B/E/S.Expects recurrent net income to be within range of 1.3 to 1.5 billion euros for FY 2014.FY 2014 net income estimate 1.491 billion euros - Thomson Reuters I/B/E/S.Already decided to propose a dividend of 1.0 euro per share for FY 2013.  Full Article

Telecom Plus PLC Announces Acquisition of Electricity Plus and Gas Plus from RWE AG's Subsidiary; Firm Placing and Placing and Open Offer
Wednesday, 20 Nov 2013 02:00am EST 

Telecom Plus PLC announced that it has entered into a conditional agreement to acquire the entire issued share capital of Electricity Plus Supply Limited (Electricity Plus) and Gas Plus Supply Limited (Gas Plus) (together, the Energy Companies) from Npower Limited (Npower), a subsidiary of RWE AG, for an aggregate consideration of £218 million (the Acquisition). Cash consideration of £218 million, £196.5 million payable on completion of the Acquisition and £21.5 million deferred for three years. The Acquisition and associated expenses will be funded from a combination of the Firm Placing and the Placing and Open Offer and a drawdown of approximately £100 million from the New Debt Facilities entered into with Barclays. The Firm Placing and the Placing and Open Offer are fully underwritten by Peel Hunt and will raise approximately £130 million of gross proceeds at the Issue Price of 1475 pence per share (out of which approximately £100 million is being raised pursuant to the Firm Placing and approximately £30 million pursuant to the Placing and Open Offer). The Issue Price of 1475 pence per share represents a 2.1% discount to the closing middle market price on 19 November 2013 (being the last Business Day before the date of this announcement). The Open Offer Shares will be offered to Qualifying Shareholders on the basis of 1 Open Offer Share for every 35 Existing Ordinary Shares  Full Article

RWE AG to Issue FY 2013 Dividend; Confirms FY 2013 Forecast
Thursday, 19 Sep 2013 01:42pm EDT 

RWE AG announced that its Executive and Supervisory Boards intend to propose to the Annual General Meeting, which will take place on April 16, 2014, a fiscal year 2013 dividend of EUR 1 per common and preferred share. Previous fiscal year's 2012 dividend was EUR 2 per share. The dividend proposal for the fiscal year 2013 should be in line with a payout ratio of 40% to 50% of recurrent net income, as opposed to the previous range of 50% to 60%. Further, RWE maintains the fiscal year 2013 earnings forecast with EBITDA of approximately EUR 9 billion, an operating result of approximately EUR 5.9 billion and recurrent net income of approximately EUR 2.4 billion.  Full Article

Gazprom OAO to Return $1.5 Billion in Retroactive Payments to RWE AG's RWE Supply & Trading CZ-Interfax
Wednesday, 18 Sep 2013 06:15am EDT 

Interfax reported that arbitration has ruled that Gazprom OAO (Gazprom) is due to refund $1.5 billion in retroactive payments to RWE AG's (RWE) RWE Supply & Trading CZ, Gazprom said in a Eurobond memorandum. This is the first time Gazprom has officially unveiled the amount of retroactive payments, which related to prices for gas supplies dating back to May 2010. Gazprom said it had provisioned 113 billion ($3.5 billion) for possible payments to RWE.  Full Article

Court Upholds Ruling on Gazprom OAO's Take-or-Pay Claim against RWE AG's RWE Transgas-Interfax
Monday, 15 Jul 2013 08:55am EDT 

Interfax reported that the Vienna Commercial Court has upheld a ruling by an international arbitration tribunal in Vienna in October 2012 concerning a claim filed by LLC Gazprom Export against RWE AG's RWE Transgas related to take-or-pay obligations in gas supplies to the Czech Republic, Gazprom OAO said in a Eurobond prospectus. Gazprom OAO will appeal the ruling with a higher jurisdiction, the Higher Provincial Court in Vienna.  Full Article

Conergy, RWE form solar leasing partnership

FRANKFURT, July 7 - Solar group Conergy and German utility RWE have struck a deal to lease out solar systems for a monthly fee, hoping commercial clients will install the technology on factories, warehouses and offices to lower their energy bills.

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