E.ON Unloads $1.3B Waste Biz Stake, Forms Venture With EQT

Law360, New York (December 19, 2012, 3:47 PM EST) -- German utility E.ON SE will spin off a controlling stake in its waste incineration unit to form a joint venture with Swedish private equity firm EQT Funds Management Ltd., the pair said Wednesday, in a deal reportedly worth €1 billion ($1.3 billion).

Financial terms of the deal were not disclosed, but the Wall Street Journal pegged the purchase price at €1 billion, citing unnamed sources close the negotiations. EQT did not give a financing breakdown for its buy-in, which gives it a 51 percent share of...
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