18 Earnings Situation by the City of Henderson, Kentucky, U.S. In March 2007, E.ON U.S. entered into a termination agreement to terminate the lease and the operating agreements. The agreement closed in July 2009. Disposal Groups and Assets Held for Sale Endesa Europa/Viesgo As part of the acquisition of the Endesa Europa/Viesgo activi- ties, an agreement was reached with A2A, the minority share- holder of E.ON Produzione, to acquire the minority interest primarily in return for company-owned generating capacity of the Italy market unit. The disposal group was reported in the New Markets segment. The agreement closed in July 2009. Commitment to the European Commission In December 2008, E.ON's commitment to the European Com- mission to sell a variety of generating capacity and its ultra- high-voltage network in Germany took effect. The resulting transactions yielded a disposal gain of 2.4 billion. Individual transactions are shown in the table below. E.ON acquired the remaining outstanding shares of France- based SNET, equal to 35 percent of the company's equity, in transactions with EnBW and EdF. E.ON is now the sole owner of SNET. Interest in OAO Gazprom As consideration for an interest in Yuzhno-Russkoye gas field in Siberia, Gazprom received the Gazprom shares indirectly held by E.ON. The relevant contracts were closed in October 2009. This transaction resulted in a book gain of 1.8 billion. E.ON now holds 3.5 percent of Gazprom's equity. Commitment to the European Commission Transaction Acquirer Closing date Various power stations and stakes in power stations Statkraft December 31, 2008 Stakes in Lippen- dorf/Bexbach power stations EnBW May 29, 2009 Inn power stations Verbund August 31, 2009 Various power stations GdF Suez/Electrabel November 4, 2009 Stakes in power stations EdF/EnBW December 30, 2009 Stake in Mehrum power station SW Hannover January 1, 2010 transpower TenneT February 2010 Business Development The financial and economic crisis also left its mark on E.ON. It led to lower demand for power and gas, and we saw the need to streamline our substantial investment program. In addition, currency-translation effects at our U.K., Nordic, and Russia market units had an adverse impact on our earnings situation in our reporting currency (euros). Finally, our policy and regulatory environment presented us with significant challenges. Among them was the sale of our ultrahigh-voltage transmission system and about 5,000 MW of generating capacity in Germany to fulfill our commitment to the Euro- pean Commission. Despite the sometimes difficult conditions in the marketplace, we had another successful financial year. As anticipated, our adjusted EBIT of 9.6 billion was at the high prior-year level, while our adjusted net income of 5.3 billion was lower in line with our forecast. We executed the following significant transactions in 2009. Acquisitions, Disposals, and Discontinued Opera- tions in 2009 Note 4 to the Consolidated Financial Statements contains detailed information about these transactions. Acquisitions Yuzhno-Russkoye In October 2008, E.ON and Gazprom reached an understanding on E.ON acquiring an interest in Yuzhno-Russkoye gas field in Siberia. The interest in the gas field was purchased by acquir- ing 25 percent (minus three shares) of the company that holds the development license. Belgian Power Plant Unit In the course of implementing E.ON's commitment to the Euro- pean Commission to dispose of certain generating capacity in Germany, E.ON acquired all of the shares of a power plant unit in Belgium from Belgium-based Electrabel. Discontinued Operations WKE Through Western Kentucky Energy Corp. ("WKE"), Henderson, Kentucky, U.S., E.ON U.S. had a 25-year lease on and operated the generating facilities of a power-generation cooperative in western Kentucky, and a coal-fired generating facility owned