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RWE sees no reason to sell Innogy stake at the moment
May 9, 2017 / 8:53 AM / in 7 months

RWE sees no reason to sell Innogy stake at the moment

DUESSELDORF, Germany (Reuters) - RWE (RWEG.DE) is under no pressure to sell stakes in its networks, retail and renewables unit Innogy (IGY.DE), Chief Executive Rolf Martin Schmitz said, but added it could make sense to diversify its financial portfolio in the long-term.

The logo of RWE is seen at block F/G of RWE's new coal power plant in Neurath, north-west of Cologne, Germany in this picture taken March 3, 2016. REUTERS/Wolfgang Rattay

    “There is no reason to change the level of our holding because we do not have a need for capital,” Schmitz told journalists late on Monday in remarks embargoed for Tuesday, adding any sale of Innogy stakes would require investing in a better asset.

    In the long term, however, Schmitz said that RWE, which holds 76.8 percent in Innogy following last year’s listing, could diversify its financial portfolio.

    Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Maria Sheahan

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