Financial Times: Eon sells gas distribution unit for €3.2bn

E.ON, the German utility, said it would pocket €3.2bn from the sale of German gas distribution unit Open Grid Europe to a group of infrastructure investors, led by Macquarie, the Australian bank.

The move brings E.ON to within €3bn of its goal of generating €15bn from the sale of assets by the end of 2013. The company has earmarked the proceeds for reducing debt and investing in renewable energy plants.  MORE (Registration Required)