FRANKFURT (Reuters) -RWE, Germany's largest power producer, would gladly sell out of uranium enrichment firm Urenco, its finance chief said on Wednesday, noting that any sale was difficult to pull off
RWE Open to Selling Urenco Stake, Faces Complex Sale Challenges
FRANKFURT (Reuters) -RWE, Germany's largest power producer, would gladly sell out of uranium enrichment firm Urenco, its finance chief said on Wednesday, noting that any sale was difficult to pull off.
E.ON and German peer RWE jointly hold a third in Urenco on behalf of the German government, while Britain and the Netherlands also hold a third each, making a divestment tricky because of the broad stakeholder set-up.
"Clearly the value of Urenco has increased lately because the demand for enriched material is increasing and so are the prices," Michael Mueller told investors after presenting nine-month results.
"The complexity here is that there are some contractual regulations around that one, so it's not as easy to just sell it," he said adding RWE would be "happy to sell" if a decent offer were to be made.
"If we cannot sell it, obviously the asset as such gains in value because with higher incomes, dividends will grow over time and that also contributes to our earnings and cash position," Mueller said.
(Reporting by Christoph Steitz, Editing by Miranda Murray)
