Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  E.ON SE    EOAN   DE000ENAG999

E.ON SE (EOAN)

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

E.ON To Pick Buyer For Gas Grid By Mid-May - Sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/04/2012 | 04:57pm CET
 By Eyk Henning, Jan Hromadko and Jessica Hodgson 
 Of  

German utility E.ON AG (>> E.ON AG) will pick a buyer for its gas distribution network Open Grid Europe in mid-May after four consortia submit binding bids by next Wednesday in a deal valued at up to around EUR3 billion, several people familiar with the matter told Dow Jones Newswires.

One source said the executive board would pick a buyer May 15, but that the deal would need the okay by the supervisory board thereafter. Another source said that E.ON has finished negotiations with the suitors and that some of the bidders still need some time to get green light from their investment committees.

An E.On spokesman declined comment.

The bidders include a consortium of French utility GdF Suez (>> GDF SUEZ), French insurer CNP Assurances (>> CNP ASSURANCES) and IFM Australian Infrastructure as well as a team around Belgium's Fluxys SA (>> FLUXYS CAT.D) and General Infrastructure Partners. Another consortium is made up of Macquarie's infrastructure funds, the Abu Dhabi Investment Authority and British Columbian Investment Management Corporation.

One of the consortia includes state-owned Dutch utility Gasunie, which is teaming up with Allianz SE's (>> Allianz SE) investment arm Allianz Capital Partners and the pension fund Canada Pension Plan. While some sources have suggested Gasunie's status could be in doubt following the turnover of the Dutch government, one of the people said Gasunie is still in and that financing is in place.

A spokesman for the Dutch ministry of Economic Affairs declined to comment.

The planned sale of Open Grid Europe is part of a broader disposal program under which E.ON plans to sell EUR15 billion worth in assets by the end of 2013. E.ON has said it plans to use the proceeds from the disposals to reduce debt and for reinvestment in emerging markets in a move to reduce dependence on European countries. So far, E.On assets worth over EUR9 billion have been sold.

The assets have commanded strong interest because they include Germany's largest gas distribution network with 12,000 kilometers of pipelines and serve as a link between Eastern and Western Europe. German rival RWE AG (>> RWE AG) last year sold its 4,100-kilometer pipeline network for around EUR500 million.

-By Jan Hromadko, Eyk Henning and Jessica Hodgson, Dow Jones Newswires,

(Patrick Buis contributed to this article)

Stocks mentioned in the article : E.ON AG, RWE AG, FLUXYS CAT.D, GDF SUEZ, Allianz SE, CNP ASSURANCES
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on E.ON SE
12/08 Germany's highest court to rule on nuclear fuel tax in 2017
12/08 CYANCONNODE : Wins Smart City Project Order From E.ON In Sweden
12/06 E ON : welcomes ruling by Federal Constitutional Court on the 13th amendment of ..
12/06DJGerman Government Must Compensate Utilities for Nuclear Law, Court Rules -- U..
12/06 E ON : Welcomes Ruling by Federal Constitutional Court on 13th Amendment of Atom..
12/05 E ON : Heat Manager simplifies night storage heater control
12/05 E ON : completes explosive ordnance disposal in the Baltic Sea for Arkona projec..
12/01 Diana Shipping Inc - Diana Shipping Inc. Announces Time Charter Contracts for..
11/30 Siemens hires Cisco manager to add high-tech acumen to board
11/30 E ON : International Energy Agency sees fast development of New Energy World
More news
Sector news : Multiline Utilities
12/08DJSovereign-Wealth Funds, Macquarie Buy Stake in U.K. Gas Business
12/08 Germany's highest court to rule on nuclear fuel tax in 2017
12/08 National Grid picks Macquarie-led group for $7 billion gas grid stake sale
12/06DJE D F : EDF Agrees to Sell Hungarian Unit to Local Utility ENKSZ
12/05DJCheung Kong Bids $5.4 Billion for Duet Group
More sector news : Multiline Utilities
News from SeekingAlpha
11/22 19 Utility Dogs Are Safely Secured To Their Dividends In November
11/16 Top Utility Dog For Gains Is NextEra Per Broker November Targets
11/10 FuelCell announces new project with E.ON
11/09 E.ON (ENAKF) Q3 2016 Results - Earnings Call Transcript
11/09 E.ON SE 2016 Q3 - Results - Earnings Call Slides
Advertisement
Financials (€)
Sales 2016 39 520 M
EBIT 2016 3 033 M
Net income 2016 -2 261 M
Debt 2016 10 636 M
Yield 2016 3,12%
P/E ratio 2016 -
P/E ratio 2017 12,75
EV / Sales 2016 0,59x
EV / Sales 2017 0,65x
Capitalization 12 736 M
More Financials
Chart E.ON SE
Duration : Period :
E.ON SE Technical Analysis Chart | EOAN | DE000ENAG999 | 4-Traders
Full-screen chart
Technical analysis trends E.ON SE
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 7,34 €
Spread / Average Target 15%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Johannes Teyssen Chief Executive Officer
Karl-Ludwig Kley Chairman-Supervisory Board
Michael Sen Chief Financial Officer
Ulrich Lehner Deputy Chairman-Supervisory Board
Karen Maria Alida de Segundo Member-Supervisory Board
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
E.ON SE-28.73%13 519
NATIONAL GRID PLC-4.91%43 392
ENGIE S.A.-26.83%30 876
SEMPRA ENERGY5.92%24 901
E.D.F.-21.22%23 943
PPL CORP-2.99%22 502
More Results