ExxonMobil sells Thyssengas GmbH - May 28, 2000

Providing coverage of Alaska and northern Canada's oil and gas industryMay 2000

Vol. 5, No. 5

Week of May 28, 2000

ExxonMobil sells Thyssengas GmbH

Petroleum News Alaska Staff

Exxon Mobil Corp. said May 24 that its subsidiary, Esso Deutschland GmbH, has reached agreement to sell its 25 percent shareholding in Thyssengas GmbH to RWE Energie AG, a subsidiary of RWE AG.

The sale of the 25 percent shareholding in Thyssengas GmbH is subject to approval by the European Commission under the terms of the Commission’s approval on Sept. 29, 1999, of the ExxonMobil merger.

Thyssengas is a major gas transmission, distribution and storage company in Germany and operates in the state of North Rhine Westphalia. RWE Energie AG currently holds a 50 percent interest, with Shell Petroleum NV, a subsidiary of the Royal Dutch/Shell Group of Companies, holding the remaining 25 percent.

The company accounts for approximately 7 percent of all gas sales in Germany.

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