Credit Suisse First Boston is advising TXU Europe, the beleaguered utility group that went into administration on Tuesday, on the sale of its German and Nordic assets.

Ernst & Young and KPMG are the administrators of the TXU Europe assets. TXU Europe is owned by TXU, a US utility group. The German and Nordic subsidiaries are the only units of TXU Europe not in administration. A spokeswoman at KPMG confirmed that CSFB will continue to work on the disposals. TXU Europe held a beauty parade last week to select an adviser, and CSFB officially started work on the mandate on Monday. Other banks in the running included Dresdner Kleinwort Wasserstein and UBS Warburg.