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Sovereign Wealth Funds Briefing - Categorized | Investment

Macquarie Group, Kuwait’s Sovereign-Wealth Fund to Buy E.On’s Spanish Assets

Posted on 28 November 2014

German power utility E.ON SE has agreed to sell its Spanish assets to Australia’s Macquarie Group and Kuwait’s sovereign-wealth fund in a deal worth €2.5 billion ($3.1 billion), according to people familiar with the matter. E.ON’s supervisory board is set to meet Friday to approve the deal, the people said.
The sale is part of an orderly but costly retreat by the German utility giant from Southern Europe’s electricity market, hard hit by a six-year economic downturn and sweeping regulatory changes that lowered the profitability of energy firms in Spain. E.ON is also in the final stage of selling its assets in Italy…………………………………..Full Article: Source


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