THE TELEGRAPH. The German power giant is to sell its oil and gas unit to a Russian billionaire in a £4bn deal.
German power giant RWE is to sell its oil and gas unit to a Russian billionaire in a €5bn (£4bn) deal, it emerged last night.
The debt-laden company, which owns supplier npower in the UK, has agreed to sell its Dea unit to L1 Energy, the investment vehicle backed by Russian billionaire Mikhail Fridman.
The deal would be the first for L1 Energy, set up by Mr Fridman and co-investor German Khan to invest some proceeds from the sale of their shares in oil venture TNK-BP.
RWE this month reported its first full-year…
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