August 20, 2012 / 7:20 AM / 5 years ago

Four groups bid for RWE's Net4Gas unit: report

PRAGUE (Reuters) - Four groups have made bids for RWE’s (RWEG.DE) Czech gas transmission system operator Net4Gas, a Czech weekly magazine reported on Monday.

A source told Reuters in July that Net4Gas could be worth about 1.4 billion euros ($1.7 billion).

The magazine cited two sources as saying the preliminary bidders for Net4Gas were Czech investment group KKCG; a consortium of Czech energy holding EPH, Global Infrastructure Partners and Belgium’s Fluxys; Macquarie; and a consortium of Allianz and Borealis Infrastructure Management.

At the end of July, a source had told Reuters that Czech groups KKCG and Energeticky a Prumyslovy Holding (EPH) were the only bidders.

KKCG had expressed its interest in Net4Gas in July, while EPH had said previously it was interested in the company. EPH spokesman Martin Manak confirmed the energy holding’s interest but declined to comment on the consortium.

    German utility RWE plans to sell Net4Gas, which operates a 2,500 km-long gas pipeline on Czech territory, as part of its broader aim to sell up to 7 billion euros worth of assets by the end of 2013.

    Martin Chalupsky, spokesman for RWE’s Czech unit, declined to comment on the tender. He said the company hoped to finish the deal by early next year. ($1 = 0.8132 euros)

    Reporting by Jason Hovet; Editing by David Holmes

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