RWE To Pursue Initial Public Offering for American Water.VOORHEES, N.J. -- The Executive Board of RWE RWE Rot-Weiss Essen (Germann football club) RWE Ralph Waldo Emerson RWE Rheinisch-Westfälische Elektrizitätswerke (German Power Supplier) RWE Read Write Execute RWE Right Wing Extremist AG, parent company to American Water, decided to pursue an initial public offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) in the U.S. for the shares of American Water as the most attractive option for RWE and the U.S.-based company, its employees and customers. This decision will return American Water to its status as a publicly-traded company. RWE had previously announced on November 4, 2005 its intention to divest American Water either through an IPO or by selling American Water to a group of financial investors. The IPO will result in a publicly-traded company that is focused on water and wastewater in the U.S. and dedicated to maintaining a high level of service and quality. The sales process A sales process is a systematic approach for performing product or service sales. The reasons for having a sales process include seller and buyer risk management, achieving standardized customer interaction in sales and scalable revenue generation. is expected to be initiated shortly through filings for approval with certain state public utility commissions. The IPO will require filing of a registration statement with the U.S. Securities and Exchange Commission (SEC). The transaction will also be subject to the approval of the RWE AG Supervisory Board Supervisory board The board of directors that represents stakeholders in the governance of the corporation. . The target is to complete the transaction during 2007. The foregoing communication does not constitute an offer to sell any securities and is not a solicitation of an offer to buy any securities. Such an offer or solicitation will only be made by means of a prospectus. RWE is one of the leading international utility companies. The company provides customers with electricity, gas and water as well as services related to these products. The company's core markets are Germany, the UK and Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. . Major companies and millions of households throughout Europe rely every day on the RWE Group's services and products. In fiscal year 2005, approximately 86,000 employees worldwide within the RWE Group generated sales of about EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 42 billion. American Water, headquartered in Voorhees, New Jersey, is the largest and most geographically diversified provider of water services in North America. The company has regulated and non-regulated utility businesses located across 29 states and three Canadian provinces. In fiscal 2005, 6,850 American Water employees generated over $2.2 billion in revenues. The company also serves over 18 million people with clean drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. and wastewater services. |
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