RWE AG Asks For Net4Gas Bids By End-July; Gaz-System To Place Offers As It Likely To Tie Up With Allianz SE, Macquarie Group Limited-Reuters
Reuters reported that RWE AG is seeking tentative bids for its long-distance gas network operator Net4Gas by July 22. Czech companies Energeticky a Prumyslovy Holding (EPH) and financial group KKCG as well as Poland's gas network operator Gaz-System are expected to place offers, though they are likely to tie up with financial investors such as Allianz SE, Macquarie Group Limited or GIP. HSBC has noted, however, that prices for the unit could come under pressure by rival pipelines transporting gas from Russia to Western Europe. The plan to sell the Net4Gas, which operates a 2,500 kilometre-long gas pipeline on Czech territory, is part of RWE's broader aim to sell up to EUR7 billion ($8.8 billion) worth of assets by the end of 2013.
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