German electricity group Eon has completed the partial sale of its subsidiary Eon Energy from Waste AG (EEW) to the Swedish financial investor EQT. With a 51 per cent stake, EQT is the new majority owner of the non-hazardous waste incineration specialist. Eon retains a 49 per cent holding.
"We will further optimise our operations in Germany,“ commented Carsten Stäblein, EEW’s management board chairman. Growth on international markets will remain the company’s second strategic focus. “Overall, we continue to look to the future with optimism,” said Mr Stäblein.
EEW accounts for an estimated 18 per cent share of the German waste incineration market. Outside Germany, the company operates a plant in Delfzijl in the Netherlands and indirectly owns a stake in a plant in Leudelange, Luxembourg. In addition, several projects in the UK are under development. The company's annual turnover stood at €544m in 2011.