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RWE completes sale of its shareholding in Berlinwasser
- State of Berlin takes over 24.95% of Berliner Wasserbetriebe
- Important step in RWE AG's divestment programme
RWE AG today completed the sale of its indirect 24.95% shareholding in water utility company Berliner Wasserbetriebe. RWE's shareholding in RWE-Veolia Berlinwasser Beteiligungs GmbH as well as two shareholder loans were taken over by a 100 percent subsidiary of the State of Berlin for a total consideration of around €658 million (purchase price of €618 million plus further payments agreed in the share purchase agreement) with retroactive effect as of 1 January 2012.
The Supervisory Board of RWE AG, the Berlin State Parliament as well as the competent cartel authorities have approved the transaction.
With today's closing of this transaction, RWE is withdrawing completely from the Berlin water utility business. RWE Board member Dr. Leonhard Birnbaum: "We are delighted to have successfully closed this transaction today after almost two years of intense negotiations. The sale of our shareholding in Berlinwasser is an important step in the implementation of RWE's measures to reinforce our capital base and to create further financial headroom for RWE."
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