German utility EnBW is once again seeking to divest more than 30 percent stake in Austrian peer EVN, Reuters reports. The firm intends to sell its assets for about €1.5 billion.

The move is aimed at raising capital, reducing cost and a faster sale of assets to shore up cash. EnBW also plans to offload its holdings in Poland to partner Electricite de France and slash its interest in Swiss Energiedienst from 87 percent to 66 percent.

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