RWE Wants to Sell Subsidiary DEA
Germany’s RWE could sell its oil and gas unit DEA for 5 billion euros, with a first phase of the negotiations expected to be concluded by the end of the year.
German Wintershall is amongst the most plausible buyers, Reuters writes on Friday. KKR, Blackstone and Centrica are also considered in the list of potential bidders. RWE is asking potential buyers to submit bids by late December.
In the while, RWE DEA Norge celebrates its 40th year in Norway. The company has bet on the Scandinavian country since the 80s. Norway represents 20% of RWE DEA’s portfolio.
The Hamburg-based utility holds 190 licences in 14 countries, with 1,375 employees worldwide. Last year it register an operating profit close to €690 million.
It invested €658 million in its asset in Europe, North Africa, South America and in the Caspian Region.