GENERAL INTEREST — Quick Takes
German utility RWE to sell oil, gas E&P unit
German utility RWE AG announced plans to sell its oil and gas exploration and production business, RWE Dea AG, based on a decision by the firm's executive board regarding an overall corporate strategic repositioning.
"The planned disposal would…take considerable pressure off future capital expenditure and therefore make an essential contribution to improving RWE's financial headroom," an RWE news release said.
Executives are evaluating their options regarding how such a divestiture might be implemented.
RWE Chief Financial Officer Bernhard Gunther said E&P is capital-intensive. The Hamburg-base...