EU Extends RWE/Essent Energy Deal Antitrust Probe By 10 Days
June 04 2009 - 5:55AM
Dow Jones News
The European Commission Thursday extended its antitrust probe
into German utility RWE AG'a (RWE.XE) plans to take over Dutch
energy company Essent NV by 10 working days, due to commitments
offered by RWE.
The new deadline for the commission to clear the deal by has now
been set for June 23. The commission wouldn't say what commitments
had been offered by the German utility, but these often include
divestments in the areas of overlaps to remove competition
concerns.
RWE wants to buy Essent's production and supply operations in a
deal valued at EUR9.3 billion, including EUR1.1 billion in debt.
Essent's electricity and gas distribution networks and waste
management operations are excluded from the deal.
By Peppi Kiviniemi and Carolyn Henson, Dow Jones Newswires; +32
2 741 1 480; carolyn.henson@dowjones.com (Maarten Van Tartwijk in
Amsterdam contributed to this article)
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