Press release BoxID: 298212 (RWE Aktiengesellschaft)

RWE Aktiengesellschaft
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Volker Heck
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RWE completes sale of majority stake in Stadtwerke Bremen

City of Bremen acquires 51% of swb / Stake to be sold on to energy company EWE

(PresseBox) ( Essen, 09-10-21 )

RWE AG today finalised the divestment of its 51-percent stake in the municipal utility Stadtwerke Bremen (swb AG). Its majority stake was indirectly held by the Dutch energy company Essent N.V., which became part of the RWE Group on 30 September 2009. Divestment of its stake in swb was the condition stipulated by the European Commission in its decision to approve the takeover of Essent.The Free Hanseatic City of Bremen was the purchaser of the stake and will now sell it on to the Oldenburg energy utility EWE AG. All parties agreed to keep the sale price confidential.

RWE Aktiengesellschaft

RWE is one of Europe's five leading electricity and gas companies. The company is active in the generation, trading, transmission and supply of electricity and gas. RWE's 72,000 employees supply 20 million customers with electricity and gas in Europe. In the first half of fiscal 2009, RWE recorded approximately €24 billion in revenue. Essent, which was recently acquired by RWE, recorded a turnover of €9 billion in 2008. RWE is currently running the biggest investment programme in its history, with an overall investment volume of over €32 billion by 2012, making it one of the largest investors in Europe. Energy from renewables plays a key role, with investments totalling €1bn per year.

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