Gelsenwasser on the block
- From: Vol 3, Issue 8 (August 2002)
- Category: Companies
- Region: Europe
- Country: Germany
- Related Companies: Eon, Gelsenwasser, Ruhrgas, RWE, Saur, Suez and Veolia Environnement (formerly Vivendi Environnement)
Companies seeking a position in the German water industry are likely to have rubbed their eyes in surprise when Gelsenwasser, Germany’s largest water supplier, appeared on a ‘must-divest’ list for energy conglomerate Eon last month.
Eon has signalled for some time that water does not have the same priority in its corporate portfolio as energy. However, quite why a subsidiary focused on water should have to be sold off to smooth the progress of Eon’s planned merger with Ruhrgas is not immediately clear. At least one other subsidiary looked a more likely candidate.
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