E.ON AG (EOAN.XE) said Monday it has agreed to sell 265 megawatts of
power generation capacity its owns in the German coal-fired power plant
Veltheim to Morgan Stanley Capital Group Inc., the commodities division of
Morgan Stanley (MS).
In a written statement, the German utility said the transaction concludes an
antitrust deal the company struck with the European Commission in late 2008.
Under the deal with the commission, E.ON had agreed to sell around 5 gigawatts,
or around 20% of its power generation capacity in
Germany
, as
well as the German ultra-high electricity transmission network.
In return, the commission dropped two pending antitrust investigations against
E.ON, over alleged anti-competitive behaviour.
E.ON didn't disclose the purchase price of the transaction with Morgan Stanley.
It said
the commission has already approved the transaction.