ČEPS to acquire RWE Gas Storage CZ from RWE for €360m.

ČEPS, the state-owned operator of the electric power transmission system, agreed to acquire RWE Gas Storage CZ, an operator of gas storage facilities in the Czech Republic, from RWE, a German multinational energy company, for €360m. “We are delighted to have found a competent and experienced buyer in ČEPS, for whom our Czech gas storage business is of key strategic significance. This provides certainty for the workforce and the opportunity to continue to evolve both the company and its business. RWE Gas Storage CZ is a profitable and established company that plays an important role in security of supply in the Czech Republic,” Markus Krebber, RWE CEO.