RWE: Commitments Made To EU In Essent Deal Are On German Market
June 04 2009 - 6:30AM
Dow Jones News
German utility RWE AG (RWE.XE) Thursday said it has offered
commitments to the European Commission regarding the planned
acquisition of Dutch competitor Essent NV, saying the proposed
remedies are related to competition issues on the German
electricity market.
"We've made proposals regarding the German [energy] market," a
spokeswoman for RWE said.
She added that RWE wasn't surprised that the European Union's
top antitrust authority extended the probe of the planned Essent
takeover by 10 days earlier Thursday.
"We've always considered the original deadline as rather
optimistic and instead expected a decision toward the end of June,"
the spokeswoman said.
The commission earlier Thursday extended its antitrust probe
into RWE's plan to acquire Essent for EUR9.3 billion, including
EUR1.1 billion in debt, due to certain commitments offered by
RWE.
Company Web site: www.rwe.com
-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503;
jan.hromadko@dowjones.com
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