The logo of the German power supplier RWE is pictured at the RWE headquarters in Essen, Germany, November 15, 2021. REUTERS/Thilo Schmuelgen

BERLIN, Dec 15 (Reuters) - Germany's RWE (RWEG.DE) is preparing to sell its gas storage business in the Czech Republic, which it no longer considered a core business, business daily Handelsblatt reported on Wednesday, citing financial sources.

Handelsblatt cited several people familiar with the transaction as saying the Essen-based energy company has entrusted investment bank Barclays with organising an auction, which is expected to start in the first half of 2022.

RWE and Barclays declined to comment on the report when contacted by Reuters.

Handelsblatt said the division could be valued at around 500 million euros ($563.20 million).

Additional reporting by Christoph Steitz; Writing by Paul Carrel; editing by Barbara Lewis

Source: Reuters

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