Business Services Industry
Majority Owner of Pittsburgh-Based Coal Miner Looks to Sell Stake.
Knight Ridder/Tribune Business News, June, 2003
Pittsburgh Post-Gazette Knight Ridder/Tribune Business News
Jun. 3--RWE AG, the European utility that owns nearly 74 percent of Upper St. Clair-based Consol Energy Inc., said yesterday that it was considering selling all or some of its shares.
"Basically, they've put people on notice that they are looking at their holdings, but whether they will do anything or not, or in what form, or how soon, is wide open," Consol spokesman Thomas Hoffman said.
RWE told the Securities and Exchange Commission in a filing that the timing and size of a share sale would depend on market, business and other conditions.
"This is part of our plan to sell assets from the core business to gain more financial flexibility," RWE spokesman Bill...
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