126 articles about "RWE"
The remunicipalisation of Berlin’s water utility will pave the way for a radical simplification of its debt portfolio.
Capstone Infrastructure Corporation had offloaded 20% of Bristol Water to Itochu just six months after buying a 70% stake in the company from Suez Environnement.
The German federal cartel office has decided that austerity should start at home, and has handed the cash-strapped citystate of Berlin a lifeline in its bid to buy back RWE’s 24.95% stake in Berliner Wasserbetriebe (BWB).
Veolia’s plans to restructure its way out of trouble were largely met with indifference by the investor community earlier this month.
The city government wants to crimp private profits, while keeping a lid on tariffs. RWE has cried foul play.
RWE has sold a further 35 million shares of American Water, reducing its stake in the company to 26.5%.
A clamp-down from Ofwat wiped more than £450 million off the value of listed UK water utilities. It helped the GWI European Water Index to under perform for the second month in a row.
Having enjoyed a period of relative out-performance until March this year, the water sector has been lagging behind the broader stock exchange during the past three months.
Germany’s largest water company struggled to boost its water sales in 2008. Falling domestic consumption means that future growth is likely to come from acquisitions.
Both Aqua America and American Water seem set to post double-digit earnings growth in 2009. The drop-off in regulated acquisition activity could be a blessing in disguise.