Essen,
22
February
2019
|
12:04
Europe/Amsterdam

innogy sold Czech gas grid business to RWE

  • Intra-Group transfer of innogy’s 50.04 per cent stakein 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.