German energy utility RWE has launched a new subsidiary for renewable energies, grids and retail operations in Germany and overseas, temporarily named “RWE International SE”.
The creation of this new company was announced in December 2015. RWE will offer around 10% of the share capital of the new company through a capital increase and additional stakes may be disposed later. The permanent name and branding of the new company is scheduled to be announced in the summer. The IPO should take place by the end of 2016. The exact date of the IPO depends, however, on the market environment at that point in time.
The parent company, RWE AG, will focus on conventional power generation and trading. The profitable trading of energy and commodities will also remain a core business. The new structure will enable RWE to fulfil financially its responsibilities regarding the nuclear phase-out.