RWE and E.ON conclude sale of Horizon Nuclear Power Ltd.

Essen, (PresseBox) - .
- Buyer is Hitachi Ltd.
- The selling price was £696 million

RWE npower and E.ON UK have today signed the sales agreement for their 50:50 Horizon joint ventures in the UK. The buyer, Hitachi Ltd., will continue to pursue plans to build new nuclear power stations at Wylfa in Wales and Oldbury-on-Severn in the south-western UK.

RWE Executive Board member Dr. Leonhard Birnbaum on the transaction: "The sale of our stake in Horizon is another important step in our divestment programme. The UK will of course continue to be one of our core markets. We see potential in particular in the retail business, in our modern and efficient power stations, and in renewable energies."

Additionally Birnbaum thanked the negotiating team: "RWE npower Group CEO, Volker Beckers, and the whole team have really done an excellent job in bringing this deal to a successful conclusion."

E.ON and RWE had already announced in March 2012 that they would be discontinuing their cooperative development work on the Horizon joint venture. The decision was preceded by a strategic review carried out independently by each company. With the sale of its stake, RWE has no further national or international new-build projects under way in the nuclear energy sector.

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