November 10, 2009 / 11:20 AM / 9 years ago

REFILE-E.ON says sells German power grid to Tennet

(Corrects story link in last paragraph)

FRANKFURT, Nov 10 (Reuters) - Germany’s E.ON (EONGn.DE), the world’s largest utility, said on Tuesday it agreed to sell its high-voltage grid to Dutch network operator TenneT for 1.1 billion euros ($1.65 billion).

The sale is effective Jan. 1, 2010 and the final price will be determined on the day of the sale, E.ON said.

The deal needs approval from antitrust regulators and will probably close at the beginning of 2010, the utility said.

People with knowledge of the transaction told Reuters on Monday that E.ON had agreed to sell the grid. [ID:nL9500663]. (Reporting by Peter Dinkloh in Frankfurt and Tom Kaeckenhoff in Duesseldorf) ($1=.6676 Euro)

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