Since the last comprehensive valuation in late 2009 the market environment in Italy, Spain and France has deteriorated in E.ON’s opinion because of the negative effects of the financial and economic crisis. The Düsseldorf-based energy company E.ON increased its adjusted EBIT by 20 percent to about € 3.7 billion in the first quarter of 2010 (prior year: € 3.1 billion). E.ON is to sell its power and gas business in the US to PPL Corporation, Allentown, Pennsylvania. The two companies signed contracts and agreed the purchase price of 7.6 Billion US-Dollar, a price that is very attractive for E.ON AG.