E.ON has completed the sale of its wholly owned subsidiary Thüga to Integra/KOM9, a consortium of local municipal utilities.

The sale, in cash consideration for about €2.9bn, excludes Thüga’s stakes in GASAG Berliner Gaswerke (37%), HEAG Südhessische Energie (40%), Stadtwerke Duisburg (20%) and Stadtwerke Karlsruhe (10%).

The sale strengthens E.ON’s €30bn investment plans in modern energy, focusing the company on Europe, E.On said.