E.ON to Sell US Subsidiary to PPL Corporation

E.ON AG, Germany’s largest utility, announced yesterday that it has entered into an agreement with PPL Corporation, Allentown, U.S.A., to sell its power and gas business in the US for USD 7.6 billion.

With this deal E.ON surpassed its target to realize at least EUR 10 billion from the divestment of assets by the end of 2010, E.ON said. The transaction is subject to the approval of U.S. cartel and regulatory bodies.

Source: E.ON

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