RWE beats Gelsenwasser to RWW
- From: Vol 3, Issue 4 (April 2002)
- Category: Companies
- Region: Europe
- Country: Germany
- Related Companies: Eon, Eurawasser, Gelsenwasser, OEWA, RWE, RWW and Veolia Environnement (formerly Vivendi Environnement)
AFTER A BITTER FIGHT with Gelsenwasser and accusations of insider dealing, RWE Aqua has acquired 36.67% of water utility RWW – one of Germany’s largest utilities – from the local authority of Mülheim an der Ruhr. The town of Mülheim will retain a 10% stake in RWW.
Assuming the four other local authorities with stakes in RWW follow suit, as they have indicated, RWE will have a 79.785% stake. The local authorities will retain a joint blocking minority interest of 20.215%.
The stake, which represents 87.5% of Mülheim’s 46% share in RWW, was put up for tender by the ailing local authority ...
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