RWE: American Water Share Disposal Proceeds Around $650 Million
14 August 2009 - 5:02PM
Dow Jones News
German utility RWE AG (RWE.XE) said Friday net proceeds from the
disposal of 35 million shares in U.S.-based American Water Works
Co. (AWK) Thursday amounted to around $650 million.
MAIN FACTS:
-Strong market demand prompted RWE to increase the offering size
by 5 million shares, from an initial offer of 30 million.
-The shares were offered at $19.25, and the sale brings RWE's
stake down to 26.5% from 46.6%.
-RWE also granted the underwriters a 30-day option to purchase
up to 5.25 million additional shares.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500