EOAN E. On SE

By Friedrich Geiger

FRANKFURT--German utility E.ON SE (E.ON) and Verbundnetz Gas AG on Wednesday said they have sold their stakes in Erdgasversorgungsgesellschaft Thueringen-Sachsen mbH to an asset management arm of Commonwealth Bank of Australia for an undisclosed fee.

EVG owns a 1,187 kilometer distribution network for natural gas in Germany and has stakes in other energy companies. The buyer, First State European Diversified Infrastructure Fund, has already acquired another German natural gas company, Ferngas Nordbayern GmbH.

E.ON and Verbundnetz Gas owned 50% stakes in the gas grid.

Write to Friedrich Geiger at friedrich.geiger@wsj.com

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