April 26, 2018 / 12:09 PM / a month ago

Sale of Innogy's Czech grid unit not a threat to E.ON/RWE deal

ESSEN, Germany, April 26 (Reuters) - A possible sale of Innogy’s Czech networks business would not threaten an agreed deal between RWE and E.ON to break up the German energy group, RWE’s Chief Executive Rolf Martin Schmitz told shareholders on Thursday.

RWE, which owns 76.8 percent in Innogy after an equity carve out in 2016, last month agreed with E.ON to break up the unit and divide the assets between the two companies in a major reshuffle of Germany’s energy sector.

Last week, sources told Reuters that Australia’s Macquarie was interested in some of Innogy’s assets, including the stake it does not own yet in Innogy’s Czech gas networks unit. (Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz Editing by Edward Taylor)

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