RWE, EnBW to Sell Their Stakes in Hungarian Company Matra

By Pietro LombardiFeaturesDow Jones Newswires

German energy companies RWE AG (RWE.XE) and EnBW AG (EBK.XE) agreed to sell their stakes in Hungarian electricity producer Matrai Eromu Zrt., or Matra, to a consortium, RWE said Thursday.

Financial details weren't disclosed. The sale to the consortium--which consists of Czech company EP Holding and Hungarian investor Lorinc Meszaros--is subject to approval by competition and Hungarian authorities.

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RWE owned a 50.9% stake in the company. EnBW's stake was 21.7%.

"The sale is in line with the restructuring of the portfolio of the company," RWE said in a statement. The sale should be completed by the first quarter of next year.

Matra has more than 2,000 employees and a generation capacity of about 960 megawatts.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

December 14, 2017 08:50 ET (13:50 GMT)