E.ON (EONGY.PK) confirms the sale of its natural gas transmission grid to a consortium led by...

|About: E.ON SE ADR (EONGY)|By:, SA News Editor

E.ON (EONGY.PK) confirms the sale of its natural gas transmission grid to a consortium led by Macquarie (MQBKY.PK) for €3.2B ($4.07B). E.ON's sale of Open Grid Europe will help the German utility reduce debt amid a weak domestic electricity market; the Australian bank will gain a network that accounts for ~70% of Germany's total annual shipping volume.