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E.ON says looking at Babcock windfarms

E.ON AG, the world’s largest utility, is looking at windfarms worth as much as €4 billion ($6.3 billion) which Australian investment company Babcock & Brown is seeking to sell, Capital magazine said on its Website, citing an E.ON manager.

“We are looking at it,” said Frank Mastiaux, head of E.ON’s renewables unit, referring to Babcock & Brown’s possible sale of its European windfarms, the magazine reported. An E.ON spokesman declined to comment. Babcock & Brown said at the end of February it would consider selling its European windfarm assets and appointed Deutsche Bank and JPMorgan Chase to run the sale. Capital magazine said the windfarms are worth €3 to 4 billion, but did not say how it arrived at that valuation. (Reuters)