E.ON Unloads Stake In Regional Unit For €610M

Law360, New York (December 17, 2013, 3:53 PM EST) -- German utility E.ON SE has agreed to sell its 73.3 percent stake in regional unit E.ON Mitte AG for €610 million ($839 million) to a group of municipal shareholders as the utility reorganizes its regional utility business, the company announced Tuesday.

Under the agreement, E.ON will buy back energy retailer E.ON Mitte Vertrieb GmbH as well as other equity interests held by E.ON Mitte AG. The sale of its 73.3 percent stake in the regional unit leaves E.ON with four remaining regional utilities in Germany. They...
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