Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/rwe-entered-into-an-agreement-to-sell-rwe-dea.shtmlRWE entered into an agreement to sell RWE Dea
RWE AG and LetterOne Group have agreed terms for the sale of RWE Dea AG at an enterprise value of some
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RWE AG and LetterOne Group have agreed terms for the sale of RWE Dea AG at an enterprise value of some € 5.1 billion and on the major contractual conditions. They will clarify the further details shortly in order to enter into the sale and purchase agreement. The enterprise value includes ca. € 0.6 billion in assumed liabilities.
Peter Terium, CEO of RWE AG: “This agreement is a major milestone in delivering our announced strategic realignment of the group. In addition, it is a further and essential step towards improving our financial strength.” He welcomes LetterOne Group’s plans: “At the same time, LetterOne Group’s intention to make RWE Dea the principal conduit of the group’s investments in the oil and gas industry supports RWE Dea as a solid, German-based, oil & gas operator with even stronger international growth ambitions.”
