RWE AG has reached an agreement on the sale of a 74.9 % share in Amprion, its subsidiary in charge of transmission system operations. Amprion is the largest of the four German transmission systems operators. The buyer is a consortium of mainly German institutional financial investors consisting of Commerz Real AG, a subsidiary of Commerzbank AG, insurance companies and pension funds. RWE will retain 25.1% of Amprion, plus a further indirect share of 10.8% through a temporary stake in the minority consortium. The sale price is based on an overall enterprise value of approximately €1.3bn (as at 1 January 2011). The sale of Amprion is a further step in RWE’s divestment programme, which aims to dispose of up to €8bn of company assets as part of its mid-term planning strategy. The transaction is subject in particular to the approval of the Supervisory Board of RWE AG as well as the responsible anti-trust authorities. Completion of the transaction is expected in the third quarter of 2011.