RWE to buyback up to $1.5 billion worth of shares, lifts adjusted profit forecast

(Corrects buyback amount in headline to $1.5 bln, not $12.5 bln)

(Reuters) - German utility RWE said on Tuesday it plans to buyback shares worth up to 1.5 billion euros ($1.59 billion) starting this year and raised its forecast for adjusted earnings before interest, taxes, depreciation and amortization to between 5.20 billion and 5.80 billion euros.

($1 = 0.9412 euros)

(This story has been corrected to say that the buyback amount is $1.5 bln, not $12.5 bln, in the headline)

(Reporting by Kanjyik Ghosh)