Germany’s RWE utility company completes sale to Russian firm despite opposition from the U.K. government.
German utility RWE AG (ticker: RWE:XETRA) closed the sale of its oil and gas unit Dea for €5.1 billion ($5.7 billion) to LetterOne Group, an investment firm headed by Mikhail Fridman, who has strong ties with Russian business. The U.K.’s Department of Energy and Climate Change (DECC) said Saturday that it would not approve the sale of the British North Sea natural gas fields, which form 20% of the Dea transaction, because of concerns regar...

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