March 13, 2018 / 2:28 PM / 9 months ago

RWE sees limited synergies from renewables integration - CEO

RWE AG CEOs Johannes Teyssen (L) and Rolf Martin Schmitz pose before the joint news conference of utilities E.On and RWE after unveiling plans for an asset swap deal which will break up RWE's Innogy unit in Essen, Germany March 13, 2018. REUTERS/Wolfgang Rattay

ESSEN, Germany (Reuters) - Germany’s RWE (RWEG.DE) sees only limited synergies from the integration of E.ON’s (EONGn.DE) and Innogy’s (IGY.DE) renewable assets as part of an announced reshuffle among the country’s top 3 utilities.

During a call with analysts, Chief Executive Rolf Martin Schmitz put the synergies from that part of the integration at about 50 million euros ($61.9 million). E.ON late on Monday said it expected total synergies of 600-800 million euros from the whole deal.

($1 = 0.8084 euros)

Reporting by Christoph Steitz, Vera Eckert and Tom Kaeckenhoff; Editing by Edward Taylor

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