RWE, E.On sell stakes in Luxembourg utility to government

luxembourg elp

RWE and E.On have signed an agreement to jointly sell their respective 18.4 percent and 10 percent shareholding in the Luxembourg utility Enovos International S.A. to a consortium led by the government of Luxembourg and Ardian, an independent private investment company.

The transaction is conditional upon the approval by the municipal council of the city of Luxembourg, the supervisory board of RWE AG and the respective antitrust authorities and is expected to close in the first quarter of 2016.

The parties agreed to not disclose the purchase price.

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