E.On has completed its second asset disposal in two days as Citigroup sold a €390m ($435m) block of shares in HVB, the German banking group for Germany's largest utility.

The block trade is Citigroup's first equity capital markets transaction for E.On and could lead to other business. E.On has a strategy of disposing of non-core holdings and is also going through a forced asset disposal programme to gain regulatory clearance for its €10bn acquisition of Ruhrgas, the German gas supplier. The disposals include its stake in Degussa, Germany's speciality chemicals company.