E.ON sells Ruhrgas Industries


German utility E.ON is selling Ruhrgas Industries GmbH to CVC Capital Partners, a private equity firm with its headquarters in the UK. The transaction is expected to be finalised by the end of August 2005, but at this stage is still subject to clearance by anti-trust authorities and approval by E.ON supervisory bodies.

Ruhrgas Industries owns Elster Electricity, manufacturers of advanced electricity meters and communication solutions, as well as other companies involved in the fields of measurement and control. A spokesman for Elster has indicated that the company does not expect to see a significant change in the way it does business, and will continue to operate under its existing brands and through existing channels.