Germany-based EnBW is again attempting to sell its stake in the Austrian company EVN as it is planning to divest assets for about EUR1.5bn ($2.1bn).
The company would sell its 30% stake in EVN in two to three steps, reports Reuters.
EnBW is also planning to sell its assests in Poland to partner Electricite de France and divest its stake in Swiss Energiedienst from current 87% to 66%.
The company has planned this move amid the Germany’s decision to phase out nuclear energy completely by 2022 after the Fukushima nuclear disaster.
Germany’s decision has overturned the legislation that had originally extended the lifespan of the country’s 17 nuclear power plants by several decades.
EnBW is also planning for a capital increase, more cost cuts and a faster sale of assets to shore up cash.