E.ON Sells Stake in Horizon Nuclear Power

E.ON has agreed to sell its stake in Horizon Nuclear Power to Hitachi. The purchase price for E.ON’s 50-percent stake in the joint venture (JV) is approximately £348 million (EUR 433 million1). RWE, the JV partner, has also agreed to sell its 50-percent stake to Hitachi. The transaction is expected to close before the end of November. By agreeing to sell its stake in Horizon Nuclear Power, E.ON has taken an important step in refocusing its operations in the United Kingdom and has made further progress toward generating approximately EUR 15 billion through disposals by the end of 2013.

E.ON and RWE formed the Horizon Nuclear Power JV in 2009 to pursue the construction of new nuclear power stations in the United Kingdom. The sale is in line with E.ON’s revised strategy for the U.K. market announced in March 2012.