Introduction RWE is a major electricity provider in Germany, being among the top 4 market leaders. At the moment, RWE holds a minor stake of 30% of Spreelicht AG, a local electricity supplier, and want to increase its share to 55%. In this case study, we aim to determine the fair market value of the shares, by valuing the company through the Multiple Approach (Question 1) and the Discounted Cash Flow Anaiysis (Question 2). We will determine the price RWE should offer to buy the shares after comparing both methods. We will sum up our recommendations in the Executive Summary (Question 3)