2/22/2008

German RWE, Turkish Ciner Group to partner in energy

Turkish Daily News - German energy giant RWE, which became Nabucco's sixth partner, will enter the Turkish energy market by acquiring Ciner Group shares. The German group, which founded RWE Holding in Istanbul, has issued a letter of intent to purchase an undisclosed amount of shares in energy companies owned by Ciner Group. After the two groups sign a conclusive stock selling agreement, they will form a joint venture in the electricity generation sector in the Turkish market. RWE aims to build new plants as well as emerge itself in Turkey's wholesale market.