The energy company E.on sold the business and leave Spain – El Periódico de Aragón

The energy company E.on sold the business and leave Spain – El Periódico de Aragón

The German utility E.on leave Spain. The company has finally reached an agreement with Australian fund Macquarie for the sale of its business in Spain and Portugal by 2,500 million euros. The investment vehicle of sovereign wealth fund Kuwait, Wren House Infrastructure, participating in the operation as a minority, which the emirate back more than 20 years after leaving Spain after the massive bankruptcy of KIO. The operation is performed by Macquarie European Infrastructure Fund IV. The activities to be sold include all E.on business in both countries, comprising 650,000 electricity and gas customers, and 32,000 miles of electric distribution network. In Spain and Portugal has a total installed generating capacity of four gigawatts (GW),

including coal, gas and renewables. It has about 1,200 employees. The buyer is committed to long-term business, according to a statement E.ON As electricity distributor operates in Cantabria, Lugo, part of Asturias and northern Castilla y León. The transaction is subject to approval by the competition authority of the European Union. The transaction is expected to close in the first quarter of 2015.

E.on tried to gain control of Endesa in 2006 after withdrawing the proposed Gas Natural takeover bid. But I had to stop after the offer of Acciona and Italy’s Enel.