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DrKW and JP Morgan capture €1.4bn RWE offer

RWE, the German utility, turned to Dresdner Kleinwort Wasserstein and JP Morgan to sell a €1.4bn ($1.7bn) stake in Heidelberger Druckmaschinen, the German printing press manufacturer, despite using Deutsche Bank and UBS three months ago.

DrKW and JP Morgan were joint bookrunners of a €900m share placement and a €500m exchangeable bond into Heidelberger shares as RWE sought to sell all of its remaining 50.02% stake in the printing press manufacturer.

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