RWE Says American Water Greenshoe Option Fully Exercised
09 June 2009 - 6:37PM
Dow Jones News
RWE AG (RWE.XE) Tuesday said the greenshoe option the German
utility has granted the bookrunners of last week's placement of
shares in American Water Works Co (AWK) has been fully exercised,
which will reduce its stake in the U.S.-based water utility to
around 47%.
A spokesman for RWE said all 3.9 million shares on offer will be
placed with the bookrunners - Merrill Lynch & Co., Citi and
Goldman, Sachs & Co. - at $17.25 a share, the same price buyers
paid in the secondary offer last Friday.
The proceeds of the greenshoe transaction amount to around $67
million, the spokesman said.
Company Web site: www.rwe.com
-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503;
jan.hromadko@dowjones.com