German utility E.ON SE (EOAN.XE) said Wednesday it has agreed to sell an opencast lignite coal mine and a power plant to a wholly-owned subsidiary of Czech energy investor EPH for an undisclosed price.

MAIN FACTS:

-The EPH unit Mibrag will take over the business, which comprises the Buschhaus lignite-fired power plant and the opencast mine in Schoeningen, eastern Germany .

-The lignite-fired power plant has a capacity of around 390 megawatt and was commissioned in 1985.

-E.ON had originally planned to cease operation of the Buschhaus power plant once the deposits in the adjoining Schoeningen opencast mine were exhausted around 2017.

-Following the transaction with E.ON, Mibrag will continue to operate the power plant, supplying it with lignite from one of its other mines, know as the central German coalfield.

-The companies expect the transaction to be completed by the end of 2013.
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