Essen,
22
February
2019
|
12:00
Europe/Amsterdam

innogy sold Czech gas grid business to RWE

  • Intra-Group transfer of innogy’s 50.04 per cent stake in innogy Grid Holding to RWE completed

 

Today, innogy SE and RWE AG signed an agreement under which innogy has sold its 50.04 per cent stake in innogy Grid Holding, a.s., based in Prague, and thus its Czech gas grid business to RWE. The other shareholder is Macquarie holding a 49.96 per cent stake.

The parties have agreed not to disclose the purchase price. From innogy’s perspective, an attractive price was secured. This has been confirmed by an expert opinion provided by a renowned audit firm on the basis of generally accepted valuation principles. The transaction has already been concluded, as it was not subject to merger clearance due to the existing Group relationship between the parties.

 

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This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking statements.