E.ON mulls sale of U.S. unit to cut debt - sources | Reuters - 0 views
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Energy Net on 08 Mar 10"* Sale would be one of the largest utility deals this year * E.ON shares down 0.1 pct, sector unchanged Germany's E.ON, the world's largest utility by sales, may sell its U.S. unit in what could be one of the biggest deals in the industry this year, people familiar with the matter told Reuters. "It'd be good to get rid of that business," said a person from within E.ON familiar with the management's strategy. "Our debt is a real burden for us." E.ON had bought the E.ON U.S. unit, formerly known as LG&E, in 2002 as part of its 9.6 billion pound ($14.30 billion) takeover of Britain's Powergen, but the overseas operation remained separate while it was integrating European operations such as energy trading."