E.ON Sells 73.3% Stake in E.ON Mitte

E.ON signed agreements on Wednesday in the attempt to complete a €20 billion disposal program. 

E.ON sold its 73.3% stake in E.ON Mitte to a consortium of municipal shareholders. The German company sold the grid activities for 610 million euros.

“Our extensive negotiations with the municipal shareholders, which were conducted in a consistently constructive and trusting atmosphere, achieved a positive result for both sides,” Ingo Luge, CEO of E.ON Deutschland, commented in a note.

With the deal, which is expected to conclude shortly, E.ON will be just 1 billion far from completing the disposal program. E.ON said last weeks that it could soon look for a buyer for some of its assets in Italy.