E.ON has signed agreements to form a joint venture (JV) with EQT Infrastructure II, to acquire 100% of the equity of E.ON Energy from Waste.
E.ON has signed agreements to form a joint venture (JV) with EQT Infrastructure II, a fund focusing on developing operational infrastructure companies and part of EQT, a Sweden based private equity group. The JV, in which EQT Infrastructure II will own 51 percent and E.ON 49 percent, will acquire 100% of the equity of E.ON Energy from Waste.
The JV will enable E.ON to reduce its involvement in waste incineration, which is not part of its core business. "The formation of the joint venture – whose two partners have agreed on a model for developing E.ON Energy from Waste’s businesses – enables us to create value with less capital and is therefore in line with the strategy we announced in late 2010," E.ON CEO Johannes Teyssen emphasised. "Together with our partner, we want to guide E.ON Energy from Waste to a successful future as an independent company."
The transaction, which is subject to antitrust approval, is expected to close in the first quarter of 2013. With this transaction, E.ON will have achiev