E.ON has sold off its stake in a major waste to energy company in Germany.
It was a 49% holder in EEW Energy from Waste, which has sites all over Germany and in Holland. But it has now sold its holding to private equity company EQT. They already had 51% from a previous deal in 2013.
EEW Energy from Waste operates 19 waste incineration plants and produces electricity, district heat and steam for industrial use.
Mathias Flacker from EQT said: “The acquisition of the remaining stake is a result of EQT Infrastructure’s strong belief in EEW’s further potential and also a continuation of the fund’s strategy to invest in the European energy sector.”
Last year EEW had sales of €539 million (£398m) and 1,210 employees.