More streamlining at E.ON


German utility E.ON has stepped up its plans to streamline its business and bolster its war chest, with the sale of VAW, its aluminium business, to Norsk Hydro for €3.1 billion ($2.8 billion). The Norwegian company will buy VAW in a deal which includes €1.2 billion of financial liabilities and pension provisions.

E.ON, which was advised by Goldman Sachs, utilised new tax laws, introduced by the German government, under which companies can dispose of domestic shareholdings without incurring heavy

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