RWE Sells Czech Gas Storage Business to State Operator CEPS for EUR360 Million
24 August 2023 - 9:59PM
Dow Jones News
By Cecilia Butini
RWE has agreed to sell its gas storage business in the Czech
Republic to the country's state-owned power transmission operator
CEPS for an equity value of 360 million euros ($391.1 million), it
said Thursday.
The German energy company said it has decided to divest the
Czech gas-storage business, named RWE Gas Storage CZ, but that it
will retain the German one, since storage facilities in Germany can
also be used to store hydrogen.
The sale of RWE Gas Storage CZ includes the entire workforce of
the company, some 250 employees, RWE said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 24, 2023 07:44 ET (11:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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