RWE acquires German heating business from ExxonMobil



(pressebox) Essen, 21.01.2009, RWE Energy has signed an agreement with Hamburg-based ExxonMobil Central Europe Holding GmbH to acquire ExxonMobil’s local and district heating business in Germany. This also comprises a 100% stake in Favorit Unternehmens-Verwaltungs-GmbH (Favorit), which has up until now been held by ESSO Germany GmbH. Approval by the Federal Cartel Office is still pending. The sale does not affect ExxonMobil’s other business areas in Germany.

Favorit operates ExxonMobil’s local and district heating business in Germany. With its over 120 employees, Favorit generated total revenues of ?80 million in 2007 and supplied 70,000 customers with 1,000 GWh of heat. The business focuses on the German states of Hamburg, North Rhine-Westphalia, Hesse and Baden-Wuerttemberg.

"The acquisition of the ExxonMobil heating business will substantially strengthen RWE Energy’s activities in the local and district heating sector", explained Heinz-Werner Ufer, CEO of RWE Energy. "This represents a further step in RWE’s plans to expand its decentralised, efficient energy generation and energy services."

RWE Energy’s purchase of ExxonMobil’s heating business has no impact on Favorit’s agreements with its employees, customers or other contractual partners.Über RWE AG

RWE Energy is the RWE Group’s sales and grid company for Continental Europe. In a total of 12 regions, including six abroad, RWE Energy offers electricity, gas, water and related services, including district heating, from a one-stop shop. Customers include residential households, commercial operations, business and industrial customers as well as municipal and regional utilities. Supraregional electricity and gas grid operations as well as the storage of gas are handled by independent companies, as are sales to major industrial accounts. Together with its subsidiaries and affiliates, RWE Energy supplies 15.5 million customers with electricity, 7.6 million customers with gas and 13 million residents with drinking water. In 2007, sales totalled 168.3 billion kilowatt-hours of electricity and 258 billion kilowatt-hours of gas. With its 28,323 employees, RWE Energy generated total revenues of ?28.2 billion in 2007, which makes it one of the leading utility companies in Europe.

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