oil

Private Equity Eyes Multi-billion Investment in German-owned Oil &Gas Unit

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November 7, 2013

This week’s deal of the week is a big one, but mainly a rumor at the moment. KKR, the US private equity giant, is teaming with the international arm of Kuwait Petroleum Corp to jointly bid for German utility RWE’s oil and gas unit DEA, according to a breaking news item on Reuters, which cited unnamed sources.

 

The deal is potentially worth up to EUR 5 billion. Besides KKR, Reuters says it had found out that Blackstone is also likely to submit a bid. Potential strategic bidders include BASF’s Wintershall and Britain’s Centrica. Oil and energy deals are a hot ticket in private equity, as we have reported recently in the DealMarket Digest. (Image source DEA)

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