E.ON has agreed to sell the grid activities of regional unit E.ON Mitte AG for to a group of municipal shareholders, with the $839m deal helping to make inroads in the company’s EUR20bn divestment plan.

E.ON Mitte operates about 45,000 km of power lines and roughly 4,800 km of gas pipelines in large sections of Hesse and other German states including Thuringia and Lower Saxony.
Ingo luge
It is the third time E.ON has sold a stake in its regional units this year as the country’s largest utility continues to grapple with adverse market conditions for its gas business.

“We’re pleased to be leaving E.ON Mitte’s modern, reliable power and gas networks in good hands,” Ingo Luge, who oversees E.ON’s German business, said in a statement.

The company plans to retain the unit’s energy distribution activities, but will next turn its attention to selling its Italian business.

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