German power giant RWE to spin off renewables business

GMT 13:31 2015 Tuesday ,01 December

Arab Today, arab today German power giant RWE to spin off renewables business

RWE company
Frankfurt - Arab Today

RWE, Germany's second-biggest power supplier, said on Tuesday it planned to spin off its renewables, grids and retail operations at home and abroad to a new subsidiary and list it on the stock market. 

The aim was to "create a platform for growth with its own access to the capital market. This will strengthen the viability of the group as a whole. The new subsidiary will be listed on the stock market probably in late 2016," RWE said in a statement. 

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