The Traderszone Network

Published in TZ Latest News 21 August, 2014 by The TZ Newswire Staff

Germany gives nod to RWE unit sale to Russian investor: sources

FRANKFURT/BERLIN (Reuters) – Germany’s economy ministry will approve the sale of utility RWE’s (RWEG.DE) oil and gas unit DEA to a Russian investor despite tensions between Russia and the West over the Ukraine crisis, two people familiar with the matter said. The economy ministry said in June it was investigating whether to block the 5.1 billion euro ($6.9 billion) sale of the DEA unit to the Letter One group of investors led by Russian tycoon Mikhail Fridman, which was announced in March. Representatives of the ministry, RWE and the Letter One consortium declined to comment.

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