FRANKFURT, Nov 5 (Reuters) – Germany’s HeidelbergCement
raised its estimate for benefits from the planned
takeover of Italcementi, drawing praise from analysts
which see the group as a formidable foe to recently merged
With investments on hold in much of the world due to an
uncertain global economic outlook, makers of building materials
are focused on cutting costs and boosting efficiency.
FRANKFURT/BERLIN, Nov 1 (Reuters) – When Chancellor Angela
Merkel called up the boss of Germany’s biggest power producer
RWE two days after the first explosion at Japan’s
Fukushima nuclear plant, there was no mention of a u-turn in her
Twenty-four hours later, Juergen Grossmann learnt through
the media that Merkel was planning to shut down the country’s
oldest nuclear plants and bid farewell to a technology she had
vowed was critical just six months earlier.
FRANKFURT/DUESSELDORF, Oct 30 (Reuters) – German utility RWE
has found three partners to finance the 1.5 billion
pound ($2.3 billion) Galloper wind park to be built off the
British coast, it said on Friday, expanding the renewables
business critics said it neglected for too long.
Most upfront financing for offshore wind parks usually comes
from power producers, but the high price tag of at least a
billion euros per park, as well as tight budget restraints in
the crisis-ridden utilities sector, mean that outside money is
FRANKFURT, Oct 16 (Reuters) – German utility EnBW
on Friday agreed to buy a 74-percent stake in gas firm VNG
from peer EWE to become the country’s
third-largest gas provider in a deal worth 1.43 billion euros
“With VNG, we will more than double our gas business which
we had already consistently expanded in recent years,” EnBW
Chief Executive Frank Mastiaux said.
FRANKFURT (Reuters) – Germany utility EnBW is close to striking a deal to expand its gas business with a roughly 1.5-billion-euro ($1.7 billion) asset swap as it seeks to offset falling profits at its power plants division, according to sources.
EnBW is in talks to acquire unlisted peer EWE’s [LANDWE.UL] 74.21 percent stake in gas group VNG [VNG.UL], aiming to pay the bulk of the purchase price with its 26 percent holding in EWE, said the three sources familiar with the deal.
FRANKFURT, Oct 16 (Reuters) – Germany utility EnBW
is close to striking a deal to expand its gas business with a
roughly 1.5-billion-euro ($1.7 billion) asset swap as it seeks
to offset falling profits at its power plants division,
according to sources.
EnBW is in talks to acquire unlisted peer EWE’s
74.21 percent stake in gas group VNG, aiming to pay the
bulk of the purchase price with its 26 percent holding in EWE,
said the three sources familiar with the deal.
FRANKFURT (Reuters) – Germany’s third biggest utility EnBW (EBKG.DE: Quote, Profile, Research) is exploring a move to expand its gas business with a roughly 1.5 billion euro (1.1 billion pounds) asset swap, hoping to offset falling profits at its power plant business, sources familiar with the deal said.
EnBW is in talks to acquire peer EWE’s [LANDWE.UL] 74.21 percent stake in gas group VNG [VNG.UL], aiming to pay the bulk of the purchase price with its 26 percent holding in EWE, three people familiar with the deal said.
FRANKFURT, Oct 14 (Reuters) – E.ON is selling its
Norwegian oil and gas assets to Russian billionaire Mikhail
Fridman in a deal worth $1.6 billion as Germany’s biggest
utility continues to shed assets under a restructuring plan.
As part of its major overhaul, E.ON put its North Sea oil
and gas exploration and production activities (E&P) under
review, hoping to rake in proceeds from a business where it
lacks the critical mass to compete with large oil companies.
FRANKFURT, Oct 12 (Reuters) – Shares in E.ON and
RWE leapt in early Monday trade, boosted by the
results of a much anticipated government review that concluded
German utilities have set aside enough money to decommission
their nuclear plants.
The results come as a rare show of political support for
Germany’s “big four” energy groups — E.ON, RWE, EnBW
and Vattenfall — which have been hit by a surge in
competition from subsidised renewable energy as well as
Germany’s decision to phase out nuclear power by 2022.
FRANKFURT/HAMBURG (Reuters) – Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) told U.S. dealers to halt sales of some 2015 diesel cars after regulators found software it designed for the affected vehicles gave false emissions data, the company said Sunday, announcing it had launched an investigation.
In a statement published by the carmaker on Sunday, Chief Executive Officer Martin Winterkorn said, “I personally am deeply sorry that we have broken the trust of our customers.