Highlights:
- According to spokesman for E.On, the German utility has stopped the sale process for its waste-to-energy group.
- Company had hoped to make 1 billion euro on the sale but highest bid reportedly came in just over 800 million euro
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Reported bidders included Morgan Stanley Infrastructure, Swedish private equity group EQT and Singapore-based SembCorp.
From the article:
Following the receipt of a number of offers that it deemed inadequate, German utility E.On has ended the sale process for its waste to energy business.
According to a recent report from news agency Reuters an E.On spokesman said that "currently no sale is under way" and that "as before, we're not under any time pressure".
The attempted sale of E.On's Energy from Waste business unit was part of the company's 15 billion euro disposal programme aimed at streamline its activities as it comes to terms with Germany's decision to end nuclear power production by 2022.
A source familiar with the sale said last week that German utility MVV had submitted a bid in excess of 800 million euros, according to Reuters.
