Bloomberg News

RWE Hires JP Morgan to Sell Czech Distributor, Hospodarske Says

February 09, 2012

Feb. 9 (Bloomberg) -- RWE AG’s Czech unit hired JP Morgan Chase & Co. as an adviser for the planned sale of its distribution subsidiary Net4Gas, Hospodarke Noviny reported, citing Martin Chalupsky, the utility’s spokesman.

Net4Gas operates 2,500 kilometers of pipelines distributing gas across the Czech Republic to other European countries and its 2010 profit exceeded 5 billion koruna ($269 million), the newspaper said. Information for potential bidders will be released in April, according to the report.

To contact the editor responsible for this story: Ladka Bauerova at lbauerova@bloomberg.net


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