Vattenfall Europe will sell its 31.6% stake in the Germany-based gas supplier, while E.ON will sell its 36.9% stake. Earlier, Vattenfall decided to dispose off the stakes as part of the company’s efforts to divest assets that are no longer considered part of its core business.
On the other hand, E.ON is selling its stake as part of divestment of its Thuega unit to a municipal utilities group. According to a spokesman of Vattenfall Europe, the sale is likely to conclude in the first half of 2010.
Reportedly, GDF Suez, which holds around 31.6% stake in Gasag, could be interested to purchase the stakes.
Goldman Sachs and Sal. Oppenheim are the advisers of E.ON and Vattenfall, respectively, to run the sale process.
