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E.ON sells majority of waste-burning unit

Wed, 12/19/2012 - 5:25am
Reuters

FRANKFURT (Reuters) - German utility E.ON is to sell a majority stake in its waste-burning unit to private equity firm EQT, disposing of a non-core assets to cut debt.

E.ON said on Wednesday it would sell its Energy from Waste unit to a newly formed joint venture with EQT Infrastructure II, a fund belonging to EQT, the private equity firm backed by Sweden's Wallenberg family.

E.ON, Germany's largest utility, will hold 49 percent in the joint venture, while EQT Infrastructure II will own the remainder.

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