“RWE, Engie studying tie-up to create Franco-German energy giant”
German utility RWE and French counterpart Engie are studying a possible share swap that could create a Franco-German giant in power grids, renewables and energy services with a market value of about 50 billion euros, report Arno Schuetze, Geert De Clercq and Julien Ponthus for Reuters. Options being looked at could involve RWE swapping part or all of its majority stake in renewables and grids firm innogy in exchange for a minority stake in Engie, four investment banking sources told the authors. Shares in the three companies jumped on the news.
Read the article in English here.
For background, read the CLEW dossier Battered utilities take on start-ups in innovation race.