Innogy grants due diligence for some business activities; Macquarie named as potential suitor
21 APR 2018
Innogy SE [ETR: IGY] announced on 20 April that it has granted due diligence regarding certain business activities.
An article in German daily Frankfurter Allgemeine today (21 April, 2018, page 25) named Australian investment bank Macquarie as a potential buyer of Innogy's Czech-based activities, noting in the Innogy press release that it has granted due diligence. Innogy Czech has 1.26m customers for its gas supply service and 377,000 customers for its electricity service. Innogy does not publish financial data for its businesses, the report stated.
Press release:
Following a request by an interested acquirer, the Executive Board of innogy SE has resolved to grant due diligence regarding innogy’s business activities in the Czech Republic and to provide selected information on the respective business activities. innogy has also received expressions of interest for certain business activities in the divisions Renewables, Retail, and Grid & Infrastructure.
Discussions are at an early stage and at this point in time it is open whether and on what terms offers for individual business activities will be submitted.