Company News

German utility EWE launches sale of minority stake

FRANKFURT, March 8 (Reuters) - Potential suitors for a minority stake in German regional utility EWE, which sources say could be valued at up to 1.6 billion euros ($1.8 billion), have until later this month to express their interest, EWE said on Friday.

The suitors should express their interest in the 26 percent stake by 1100 GMT on March 21 via email at, EWE said in a statement. Citi is managing the sale.

Sources told Reuters in January that infrastructure investor Macquarie and Allianz were expected to submit a joint bid, as are Canadian pension fund OMERS, Australian infrastructure fund IFM and Dutch pension fund PGGM.

Most of EWE, which has annual sales of 8.25 billion euros and an operating margin of 6.1 percent, is owned by cities and municipalities in northwest Germany.

$1 = 0.8921 euros Reporting by Christoph Steitz; Editing by Mark Potter