RWE Raises Amprion Stake to 58% After Acquiring More Shares in M31
RWE's Increased Stake and Implications for Amprion
Details of the Acquisition
Sept 16 (Reuters) - RWE, Germany's biggest power producer, said on Wednesday it had bought an additional 3% stake in M31, which holds around three-quarters of shares in transmission system operator Amprion.
With the acquisition, RWE's pro-rata stake in Amprion will increase to about 58%, making it the majority shareholder of M31, RWE said.
Key Points of the Transaction
Here are more details:
Amprion's Operational Independence
• RWE said Amprion will remain an independent transmission operator, adding that it will consolidate its stake in Amprion at equity.
Background on Ownership Changes
• Sources told Reuters earlier this year that Amprion's major owners were considering selling their stakes to new investors.
Regulatory Approval
• In July, Germany's Federal Cartel Office approved RWE's acquisition of about 47% of shares in M31.
M31 Shareholder Structure
• M31's shareholders include MEAG Munich Ergo, which is Munich Re's asset management arm, along with Swiss Life, Talanx, insurer Versicherungskammer and Commerzbank's Commerz Real.
Reporting Credits
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Shreya Biswas)