Credit Suisse First Boston will make up to €80m ($79m) from the sale of E.ON's stake in Stinnes, its transport and chemicals division, for which Deutsche Bahn has emerged as the likely buyer.

The German utility company, which has been divesting non-core assets as it focuses on its energy business, hired CSFB in March to advise on the sale. Its favoured approach was to put its 65.5% stake in Stinnes up for auction, and a number of trade and financial buyers are said to have expressed interest.