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RWE's Options to Exit Innogy Include Deal With Enel -Reuters

Dow Jones Newswires

German utility RWE AG is looking at ways to cut its 16.8 billion euro ($19.8 billion) stake in subsidiary Innogy, Reuters reports.

--This could involve a deal with Italy's Enel SpA, Europe's largest utility by market value, says Reuters.

--Enel CEO Francesco Starace said earlier this month that the company had to grow its core distribution business, fueling talk of acquisitions, despite previous comments that he saw big utility deals in Europe as destroying value for shareholders, according to Reuters.

--RWE previously said there was no need to sell its 76.8% stake in Innogy, given the steady dividend it gets from the company's networks, says Reuters.

Full story: http://reut.rs/2zWOAom

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(END) Dow Jones Newswires

November 20, 2017 03:45 ET (08:45 GMT)