RWE Poised to Sell DEA Arm to Russian Tycoon

02.03.2015 -

Completion of the sale of the DEA unit of German oil and gas giant RWE to LetterOne, an investor group led by Russian tycoon Mikhail Fridman appears to be imminent.

News reports confirmed by an RWE spokesperson said the closing was expected for Mar. 2, reports say.

First announced in early 2014, the transaction at least temporarily ran aground due to the Ukraine crisis and fears by the UK government that it would go against European sanctions.

However, the newspaper Wall Street Journal said it expected a "letter of comfort" from the British government to give non-binding consent to the deal.