E.ON, Verbundnetz Sell German Gas Grid to Australian Fund
October 22 2014 - 11:17AM
Dow Jones News
By Friedrich Geiger
FRANKFURT--German utility E.ON SE (E.ON) and Verbundnetz Gas AG
on Wednesday said they have sold their stakes in
Erdgasversorgungsgesellschaft Thueringen-Sachsen mbH to an asset
management arm of Commonwealth Bank of Australia for an undisclosed
fee.
EVG owns a 1,187 kilometer distribution network for natural gas
in Germany and has stakes in other energy companies. The buyer,
First State European Diversified Infrastructure Fund, has already
acquired another German natural gas company, Ferngas Nordbayern
GmbH.
E.ON and Verbundnetz Gas owned 50% stakes in the gas grid.
Write to Friedrich Geiger at friedrich.geiger@wsj.com
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