Key Developments: RWE AG (RWEG_p.DE)

RWEG_p.DE on Xetra

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

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

Hitachi Ltd Nears British Nuclear Project Deal From E.ON AG And RWE AG-Reuters
Saturday, 27 Oct 2012 12:58pm EDT 

Reuters reported that Hitachi Ltd is close to buying British nuclear new-build project Horizon. Hitachi, which is leading a consortium bidding for the project, was likely to be the winner. Japanese media said on Saturday the deal was expected to be worth more than 50 billion yen ($628.5 million) while analysts have put the value of Horizon at about 500 million euros ($646.6 million). Horizon, which plans to build 6 gigawatts (GW) of nuclear capacity, was put up for sale by its owners, E.ON AG and RWE AG, in March, as Germany's decision to pull out of nuclear power hurt their finances.  Full Article

RWE AG And E.ON AG In Advanced Talks To Sell Horizon-Reuters
Thursday, 25 Oct 2012 12:00pm EDT 

Reuters reported that RWE AG is in advanced talks to sell Horizon, its British nuclear joint venture with E.ON, a deal that analysts say could fetch up to EUR500 million euros ($648 million). E.ON and RWE, under pressure from Germany's decision to phase out nuclear power, in March announced the sale of Horizon, a joint venture through which they had planned to invest 15 billion pounds ($24 billion) building plants in Oldbury and Wylfa with combined capacity of at least 6 gigawatts (GW).  Full Article

RWE AG May Have To Adjust Asset Sale Goals-Reuters
Thursday, 25 Oct 2012 08:36am EDT 

Reuters reported that RWE AG signaled on Wednesday that it may take longer to sell up to EUR7 billion ($9.08 billion) in assets which it plans to dispose of by the end of next year.  Full Article

Gazprom OAO's Gazprom export Comments On Outcome Of Arbitration With RWE AG's RWE Transgas
Wednesday, 24 Oct 2012 08:00pm EDT 

Gazprom OAO's Gazprom export announced that the Gazprom Group considers possibilities to appeal against the decision made by the arbitration court in Vienna that refers to the fulfillment of the take-or-pay clauses of the contract for gas supply to Czech Republic, concluded earlier with the RWE Transgas, the Czech subsidiary of RWE AG. In this connection Gazprom export takes it as necessary to appeal at the Supreme Court of Austria for cancellation of this decision. The arbitration has declared valid the part of Addendum 1 to gas supply contract between RWE Transgas and Gazprom export. This part of addendum says that RWE Transgas can reduce its obligations for gas offtake (the take-or-pay) for the same amounts that the Gazprom Group directly supplies to the Czech market. At the same time, the symmetrical part of the same Addendum was declared non-valid. This part stated that Gazprom had the right to increase the obligations of RWE Transgas, on the amounts that RWE supplies outside of Czech Republic to the markets where Gazprom Group is working as well. The invalidity of the latter part was never doubted by either party.  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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