RWE Investors Will Want Additional Returns After Wind Project Stake Sale -- Market Talk
Dow Jones
Apr 01
0817 GMT - RWE's management will be under pressure to increase shareholder returns after selling a 49% stake in its Thor and Nordseecluster wind projects for 1.4 billion euros, Citi analysts write in a note. The German utility company announced the sale to Norges Bank on Monday. The sale is positive for RWE and values the projects at around 2.9 billion euros--almost double what the analysts had expected, they write. The transaction is expected to be completed by the third quarter of the year. Shares trade flat at 33.06 euros and are up nearly 15% over the year to date.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 04:17 ET (08:17 GMT)
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