Germany will check the purchase of a fridman oil and gas company for € 5 billion

The Ministry of Economics and Energy of Germany checks the contract for the sale of the DeA company to the Letterone group for € 5.1 billion, writes Spiegel with reference to a source in the department. DEA is a subsidiary of the German energy concern RWE, and Letterone is affiliated with Alfa-Group Mikhail Friedman.

The notification of the start of the audit was received at RWe on Friday, June 13. The question that officials are looking for: will the transaction cause German energy safety damage? The inspectors will not look for any specific violations.

For RWE, a delay associated with the audit may be extremely unpleasant: the company has accumulated a debt € 30 billion, the financial situation is deteriorating, and Russian partners may abandon the contract.

Letterone, owned by the owners of Alfa-Group, Mikhail Friedman, German Khan and Alexei Kuzmichev, agreed on a deal with RWE in March 2014. The amount of € 5.1 billion includes € 600 million debt obligations. The deal was planned to be closed before the end of 2014.

According to RW President Peter Terium, the sale of Dea is an important milestone in the way of restructuring the company. In 2013, RWe for the first time in 60 years has incurred losses, changes are needed.

Earlier, the largest German oil and gas company Wintershall and the consortium of American investment funds KKR and KUFPEC claimed, but the Russian company made the seller the most generous offer.

Letterone was created by the owners of Alfa in the summer of 2013 after the sale of Rosneft in TNK-Br. The new company received more than $ 15 billion at its disposal to invest them in telecommunications and oil and gas assets abroad. Leaders L1 Herman Khan.

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