E.ON Espana has 4.5 gigawatts (GW) of installed capacity in Spain, mostly through thermal generation but also including 1.1 GW of renewables capacity, and employs about 1,130 people.
Energias de Portugal (EDP) has electricity distribution assets in Asturias and gas distribution assets in Pais Vasco. Those would have great sinergies with the electricity distribution assets that E.ON has in Cantabria, also in northern Spain. However, local sources that the company could have problems to find financiers for the transaction.
In April, Reuters published that E.ON had hired Citi to advise it on the sale of the assets.
Citi has opened the books on the assets to potential buyers, which would need to make non-binding offers before August 11.