EOn and Statkraft finalize asset swap
Germany's EOn group has finalized its agreement with Statkraft for a €4.5 billion ($6.2 billion) asset swap under which EOn will take total ownership of its Swedish subsidiary, EOn Sverige. As part of the agreement, EOn will acquire Statkraft's 44.6% stake in EOn Sverige, whose nuclear power assets are 29.6% of the Ringhals plant, 9.8% of the Forsmark and 54.5% of Oskarshamn. EOn said these nuclear assets make up 40% of the 6400 MWe of generation it now owns in Sweden. The transfer of ownership of the assets is expected to take place at the end of 2008, subject to the necessary approval by antitrust authorities. In addition to full control of EOn Sverige, EOn will also acquire a hydropower plant in Sweden. In return, government-owned Statkraft will receive 51 hydropower plants in Sweden, Germany and the UK, as well as five Swedish district heating plants and two gas-fired plants in Germany. In addition, Statkraft receives a structured gas storage and an electricity supply contract.
Germany's EOn group has finalized its agreement with Statkraft for a €4.5 billion ($6.2 billion) asset swap under which EOn will take total ownership of its Swedish subsidiary, EOn Sverige. As part of the agreement, EOn will acquire Statkraft's 44.6% stake in EOn Sverige, whose nuclear power assets are 29.6% of the Ringhals plant, 9.8% of the Forsmark and 54.5% of Oskarshamn. EOn said these nuclear assets make up 40% of the 6400 MWe of generation it now owns in Sweden. The transfer of ownership of the assets is expected to take place at the end of 2008, subject to the necessary approval by antitrust authorities. In addition to full control of EOn Sverige, EOn will also acquire a hydropower plant in Sweden. In return, government-owned Statkraft will receive 51 hydropower plants in Sweden, Germany and the UK, as well as five Swedish district heating plants and two gas-fired plants in Germany. In addition, Statkraft receives a structured gas storage and an electricity supply contract.
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