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E.ON sells Energy from Waste to JV with EQT
December 19, 2012 / 12:55 PM / 5 years ago

E.ON sells Energy from Waste to JV with EQT

FRANKFURT, Dec 19 (Reuters) - German utility E.ON is disposing of the majority of its waste-burning unit Energy from Waste as it seeks to streamline its portfolio and reduce debt.

E.ON is selling the unit to a joint venture with private equity investor EQT Infrastructure, in which it will hold a minority stake, E.ON said in a statement on Wednesday.

In June, E.ON had halted the sale of Energy from Waste after receiving bids that it saw as too low.

The transaction with EQT, which is needs antitrust approval, is expected to close in the first quarter of 2013, E.ON said.

With the deal, E.ON said it will have achieved more than 14 billion euros ($18.5 billion) of its target to generate 15 billion euros through portfolio measures by the end of 2013.

$1 = 0.7568 euros Reporting by Arno Schuetze

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