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Evonik Completes Sale of Saar Ferngas
5:26 AM MST | November 27, 2007 | Alex Scott
Evonik says today it has completed the sale of its 76.88% stake in gas distribution company Saar Ferngas (Saabrücken, Germany) to ArcelorMittal Group (Luxembourg) for about €367 million ($545 million). The sale follows approval of the deal by various regulatory bodies. “Following the divestment of the gas distribution activities, our energy business area’s portfolio is focused on generating power from hard coal and renewable resources,” says Werner Müller, chairman of Evonik’s board of management...
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