LONDON — Shares of RWE AG rose to a record high on reports that buyout firm Terra Firma Capital Partners Ltd., plans to buy the company's UK water unit for $14.2 billion, according to a Jan. 16 Bloomberg press release.
The transaction would end RWE's five-year, $17 billion expansion into water, which drew investments away from growing energy markets, the release said.
RWE shares rose as much as $2.20, or 2.9 percent, to a record $78.33, the release said.
RWE AG is a public utility and electric power company based in Essen, Germany; Terra Firma Capital Partners Ltd., is a private equity firm based in London.
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