RWE To Sell 75% Amprion Stake

German utility RWE is selling a majority stake in its power-transmission grid unit Amprion.

German utility RWE is selling a majority stake in its power-transmission grid unit Amprion, The Wall Street Journal reports. RWE is expected to sell about a 75% stake of the network to Commerzbank.

CommerzReal, the real-estate investment unit of Commerzbank, will resell the stake to several financial investors. RWE will retain operating control of the power-transmission network. The sale is part of RWE’s divestiture plan to sell assets worth up to €8 billion by the end of 2013.

Click here for the story from The Wall Street Journal.