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RWE Says Working to Close RWE Dea Sale

Source: Reuters 10/15/2014, Location: Europe

RWE said it was still working on closing the sale of its oil and gas unit RWE Dea AG to a Russian investor, in response to a report the deal had been blocked in Britain.

"We are still working to close the transaction in 2014 as planned," a spokesman for the company said late Wednesday.

He declined to comment further on the report in the Financial Times that Britain's Energy Minister Ed Davey is not keen to issue a 'comfort letter' for the transaction in light of sanctions against Russia.

The deal to sell its oil and gas production arm to a consortium of investors led by Russian tycoon Mikhail Fridman, for 5.1 billion euros, was approved by Germany in August.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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