E.ON’s ambition drives municipal stake sales
- From: Vol 9, Issue 1 (January 2008)
- Category: General
- Region: Europe
- Country: Germany
- Related Companies: E.ON, E.ON Avacon, Gelsenwasser and WEVG
E.ON Avacon’s urgent need to divest stakes in two municipal water and energy firms resulted in a brace of bargain sales in December.
To comply with cartel authority requirements in connection with its plan to raise its participation in energy company WEVG from 10% to 50.23%, E.ON Avacon, a regional subsidiary of Germany’s largest energy company E.ON, had to act fast.
The company not only had to rid itself of a 37.45% stake in Stadtwerke Stendal, but was ...
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