RWE AG

M&A Activity • Oct 1, 2022

News Details

Ad-hoc | 1 October 2022 21:18

RWE Aktiengesellschaft: Ad-hoc release in accordance with Art. 17 MAR – RWE AG agrees to acquire Con Edison Clean Energy Businesses, Inc. and issues mandatory convertible bond

RWE Aktiengesellschaft / Key word(s): Mergers & Acquisitions/Corporate Action

RWE Aktiengesellschaft: Ad-hoc release in accordance with Art. 17 MAR – RWE AG agrees to acquire Con Edison Clean Energy Businesses, Inc. and issues mandatory convertible bond

01-Oct-2022 / 21:18 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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RWE Aktiengesellschaft today entered into a purchase agreement with Consolidated Edison Inc., New York, for the acquisition of all shares in Con Edison Clean Energy Businesses, Inc., New York.

Con Edison Clean Energy Businesses, Inc. is a leading operator and developer of solar plants and storage facilities in the US market with an operating portfolio of approx. 3.1 GW AC and a development portfolio of approx. 7.3 GW AC . With this acquisition, RWE is expanding its global portfolio in the field of renewables as a whole and at the same time diversifying the portfolio in terms of technology. In addition, RWE is strengthening its US business and thus further diversifying geographically. The closing of the transaction is subject to regulatory approvals.

The purchase price for the acquisition is USD 6.8 billion enterprise value.

The financing will initially be provided by a bridge loan, which will be partly refinanced by an equity capital measure undertaken by RWE Aktiengesellschaft. In this context, RWE Aktiengesellschaft and Qatar Holding LLC, a wholly owned subsidiary of Qatar Investment Authority, have entered into an investment agreement providing for customary provisions with anchor shareholders and agreed on the issuance of a mandatory convertible bond guaranteed by RWE Aktiengesellschaft with a total nominal amount of 2,427.6 million euros and a maximum term of one year. It will be converted into new no-par value ordinary bearer shares of RWE Aktiengesellschaft, expected to represent just under 10% of the current share capital.

Disclosed by Dr Ulrich Rust, General Counsel

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01-Oct-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com

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Language:	English
Company:	RWE Aktiengesellschaft
	RWE Platz 1
	45141 Essen
	Germany
Phone:	+49 (0)201-5179 0
Fax:	+49 (0)201-5179 5005
E-mail:	invest@rwe.com
Internet:	www.rwe.com
ISIN:	DE0007037129, Weitere ISINs von Fremdkapital- und Hybridanleihen sind unter http://www.rwe.com/web/cms/de/1775762/rwe/investor-relations/anleihen/finanzierungsinstrumente/rwe-anleihen-im-ueberblick/, aufgelistet.,
WKN:	703712, Weitere WKNs von Fremdkapital- und Hybridanleihen sind unter http://www.rwe.com/web/cms/de/1775762/rwe/investor-relations/anleihen/finanzierungsinstrumente/rwe-anleihen-im-ueberblick/ aufgelistet.
Listed:	Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID:	1454901

End of Announcement	EQS News Service