RWE and Eon have agreed to jointly sell their minority stakes in Luxembourg utility company Enovos to a consortium led by the Grand Duchy of Luxembourg and investment company Ardian.
RWE currently owns 18.4% of Enovos and Eon owns 10%.
The deal will go ahead subject to approval by the Municipal Council of the City of Luxembourg, the Supervisory Board of RWE and antitrust authorities and is expected to be completed in the first quarter of 2016.
RWE and Eon will sell their shareholding for an undisclosed sum, as the parties agreed not to disclose the purchase price.
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RWE and Eon sell Enovos stakes
Will sell utility holdings to consortium led by Grand Duchy of Luxembourg
By EBS