Qatar Investment Authority to invest in German energy multinational RWE
Doha: Qatar Investment Authority (QIA) today agreed to invest €2,427.6 million in RWE AG (RWE) to support its accelerated “Growing Green” strategy.
HE Mansoor bin Ebrahim Al Mahmoud, CEO of QIA, said: “We are proud to support RWE’s vision to become a leader in the global renewable energy market. QIA actively invests in companies that can positively impact society and shape the future. of sustainability by making the energy transition a reality.”
Markus Krebber, CEO of RWE AG: “I am delighted that QIA is supporting RWE’s accelerated growth ambitions with this investment. This once again demonstrates our commitment to being one of the world’s leading drivers of the global energy transition. QIA’s long-term capital commitment enables RWE to finance the acquisition of Con Edison Clean Energy Businesses and thereby drive our further green growth in the years to come.”
RWE will issue a convertible bond to a subsidiary of QIA. The bond will be converted into new ordinary bearer shares which are expected to represent just under 10% of RWE’s existing share capital (and approximately 9.09% of the expanded share capital after the conversion).
Proceeds from the mandatory convertible bond will be used to acquire Con Edison Clean Energy Businesses, which will position RWE as one of the leading renewable energy companies in the United States.
