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BERLIN (Reuters) – German utility company Stieg, which is considering a sale, will rename most of its business Icony in the course of the planned split, the new company said on its website. became clear. company.
About 2,300 employees will work for Iqony, which includes solar, wind, geothermal and hydrogen projects in its portfolio, according to its website.
According to the WAZ newspaper, which first reported the name change, coal-fired power plants, including the large sites in Duisburg and Saarland, will not be part of the new company.
Before the start of a formal sales process, which the company expects to complete by the end of 2023, Steag wants to split into an environmentally conscious part focused on renewable energy and a traditional division that deals with the company’s coal-fired power plants. I think. Include.
The company aims to sign a deal with a strategic buyer or financial investor by the summer of 2023 and complete the transaction by the end of the year, CEO Andreas Reichel told reporters in November.
The 5,700-employee Steag is owned by KSBG, which holds shares in six local governments in Germany’s industrial Ruhr area. Duisburg, Dortmund, Bochum, Essen, Oberhausen and Dinslaken.
Written by Miranda Murray, edited by Louise Havens
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