Key Developments: RWE AG (RWEG_p.DE)

RWEG_p.DE on Xetra

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Latest Key Developments (Source: Significant Developments)

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

RWE AG Talks To Sell Upstream Oil, Gas Unit Dea Haven't Started-DJ
Wednesday, 12 Jun 2013 09:50am EDT 

Dow Jones reported that RWE AG continues to sound out market interest in its oil and gas production unit RWE Dea with the aim of selling the entire business, which analysts have said could be worth up to around 5.8 billion. The sale is part of a broader effort to reduce debt and strengthen the utility's balance sheet as muted energy demand in Europe erodes the price it can charge for its electricity.  Full Article

OMV AG Buys RWE AG's Stake In Nabucco Gas Pipeline Project-Reuters
Sunday, 14 Apr 2013 07:01am EDT 

Reuters reported that OMV AG has bought German utility RWE AG's nearly 17% stake in the Nabucco pipeline project that aims to bring Caspian gas to Europe. An OMV spokesman confirmed media reports about the sale but gave no financial details. RWE also confirmed the stake was transferred on March 1 but gave no price or other details. OMV Chief Executive Gerhard Roiss had said in December that talks with RWE on a sale were under way. Both companies own 16.67% stakes in the project. A decision on which pipeline project will get the contract of delivering Azeri gas to Europe is due within months. Nabucco is competeing against the Trans Adriatic Pipeline group. RWE had said in May it was reviewing the Nabucco project. OMV and its partners have proposed a scaled-down version of the project called Nabucco West that would run from Turkey's western border to Austria. Nabucco West foresees the construction of a 1,300 km pipeline from the Bulgarian/Turkish border to Austria.  Full Article

Allianz SE, Borealis To Buy RWE' AGs Net4Gas For $2 Billion-Reuters
Thursday, 28 Mar 2013 01:39pm EDT 

Reuters reported that Allianz SE and a Canadian investor agreed to pay some EUR1.6 billion ($2 billion) including debt for a Czech gas pipeline operator. The purchase of RWE AG's Net4Gas unit is the latest in a string of acquisitions in the field of power and gas grids, which are attracting pension funds and insurers due the promise of steady returns amid low bond yields and volatile equities.  Full Article

RWE AG Hires Goldman To Sell Oil And Gas Exploration Unit-Reuters
Tuesday, 12 Mar 2013 04:38am EDT 

Reuters reported that RWE AG has hired Goldman Sachs to sell its oil and gas exploration unit DEA. RWE was planning to sell the unit in a move to slash investments and cut its EUR33 billion ($43 billion) debt pile.  Full Article

RWE AG To Sell Oil And Gas Exploration Unit To Cut Debt; Reaffirms FY 2013 EBITDA Outlook-Reuters
Tuesday, 5 Mar 2013 03:36am EST 

Reuters reported that RWE AG has put its oil and gas exploration unit up for sale in a move that could raise about EUR4.6 billion ($6 billion) for its drive to cut debt. RWE had previously said it only wanted to sell parts of the unit, called DEA, which accounted for 23% of the group's operating profit in 2012. RWE initially planned to sell assets worth up to EUR7 billion by the end of this year, but the group said on Tuesday this would likely take longer because it could not get adequate prices for its assets. The Company keeps fiscal 2013 EBITDA outlook of about EUR9 billion.  Full Article

Macquarie Group Ltd, EPH To Bid Jointly For RWE AG's Net4Gas-Reuters
Thursday, 14 Feb 2013 10:31am EST 

Reuters reported that Czech energy firm EPH and Macquarie Group Ltd will submit a joint bid for Net4Gas, the Czech gas transmission system operator owned by RWE AG. The bids, due on February 18, 2013 are expected to range between EUR1.5-EUR2 billion ($2-$2.3 billion) Macquarie and RWE declined to comment. EPH had no immediate comment.  Full Article

German court to decide on nuclear exit complaints this year

DUESSELDORF/FRANKFURT - Germany's highest court aims to decide this year on complaints filed by the country's biggest utilities against a decision to shut down its nuclear plants earlier than initially planned, a court spokesman said on Tuesday.

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