QIA boss Mansoor Al-Mahmoud
“We are proud to support RWE’s vision to become a leader in the global renewable energy market.”
(Photo: Bloomberg/Getty Images)
On Monday, the Qatari sovereign wealth fund, the Qatar Investment Authority (QIA), announced that it would subscribe to mandatory convertible bonds worth 2.4 billion euros from the German energy supplier RWE – and thus caused prices to rise. RWE shares have risen by almost five percent since the deal was announced by Tuesday afternoon.
The fact that the shareholders reacted so positively to the entry is probably also related to the intended purpose. The capital injection should enable RWE to make an important investment in the future: the purchase of the US solar specialist Con Edison Clean Energy Businesses for a total of 6.9 billion euros.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue