RWE – divide and conquer

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So it’s true after all! “Kernspaltung bei RWE” (“Nuclear fission at RWE”, sz): RWE today announced to want to split after all. As such, only a new “green” spin-off was announced. At noon the share price jumped upward by almost 10% and rose in the meantime by 16,69% compared to the day before.

Business with green power, electricity grids and distribution is intended therefore to be incorporated into a new company. Ten percent of this new, “green” company will then likely be brought to the stock exchange by the end of 2016 as part of a capital increase. […] The parent company however will in future concentrate on the conventional electricity production and energy trading. The recoverable assets for the nuclear power plants held by the group would thereby not be changed. (sz)

About the plans of the RWE Executive Board, the Supervisory Board shall decide on December 11th. On the basis of the expected results of 2015, the new company of RWE will achieve sales of more than 40 billion Euros and earnings, before interest, taxes, depreciation and amortization, of more than four billion euros. It is intended to take over almost 40,000 of 60,000 employees. (businessinsider)

Background is also the shareholder structure of RWE. While Eon is a listed public company with numerous investors, at RWE the municipalities do also have a decisive say. The North Rhine-Westphalian municipalities together hold almost a quarter of the RWE shares. (n24)

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