March 13, 2019 / 1:17 PM / a month ago

Innogy gets book gain of nearly $1.1 bln for Czech grid sale

FRANKFURT/ESSEN, Germany, March 13 (Reuters) - Innogy expects a book gain of nearly 1 billion euros ($1.1 billion) for the sale of its stake in a gas network to parent RWE, its finance chief told analysts on Wednesday.

Last month, Innogy agreed to sell the 50.04 percent stake in Innogy Grid Holding to RWE, not disclosing a purchase price. Innogy CFO Bernhard Guenther said Innogy expects a book gain in the “very high” triple digit million euro range as part of the deal.

Macquarie owns the remaining 49.96 percent.

($1 = 0.8853 euros)

Reporting by Christoph Steitz and Vera Eckert; editing by Thomas Seythal

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