Monday, December 10, 2007
RWE to conclude talks on Excelerate stake buy by Christmas - report
10 December 2007
AFX International Focus (Thomson Financial)
Picked up by: Forbes.com and ABCMoney.com (UK)
FRANKFURT - RWE AG and Excelerate Energy plan to conclude their negotiations on a stake buy in Excelerate by Christmas, Financial Times Deutschland reported, without citing any sources.
RWE last week confirmed it is negotiating with Excelerate Energy to buy a stake in the company, which has developed gas ships that re-gasify Liquefied Natural Gas (LNG) on board.
According to Platts, an energy and metals information provider, RWE is seeking to acquire a 50 pct stake in Excelerate.
RWE already markets Excelerate's natural gas landed at an import facility in Teesside, UK.
The two companies also plan to cooperate on a planned LNG facility in Wilhelmshaven, Germany.
