Wintershall, Fridman in Pole Position for RWE Dea

The favorites in the race for Germany’s second-biggest utility RWE Dea are Wintershall, Russian billionaire Mikhail Fridman and a consortium of America’s KKR with Kuwait’s Kufpec. Bids are expected on Monday. 

RWE Dea holds a wide portfolio on the UK Continental Shelf. It recently signed an agreement to acquire a 25% share from Chrysaour CNS in blocks 202/4, 202/5, 203/1a, 205/26c and 205/27.

Germany’s RWE intends to sell its oil and gas unit DEA for 5 billion euros, with a first phase of the negotiations expected to be concluded by the end of the year. Other potential buyers are Blackstone and Centrica. 

The Hamburg-based utility holds 190 licences in 14 countries, with 1,375 employees worldwide. In 2012, it register an operating profit close to €690 million.