E.ON sells stake in Gazprom for £2.8bn
Thursday 02 December 2010
E.ON has sold its 3.5 per cent stake in the Russian gas monopoly Gazprom for €3.4bn (£2.8bn). The German energy giant, which is raising money to expand outside Europe, sold 2.7 per cent to the Russian state bank VEB and 0.8 per cent on the stock market. As its earnings in Europe drop due to a tax on its nuclear power plants in Germany and demand falls due to the economic crisis, E.ON is seeking to lower its €45bn debt burden and raise money to expand outside the continent.
The company plans to generate €15bn through divestments in the next three years.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...