A PYMNTS Company

EU: German utility Eon in talks for $44bn deal for Innogy

By  |  March 11, 2018

Eon, the German utility, has unveiled a complex €43bn deal to acquire Innogy, the renewable energy business, from its controlling shareholder RWE as well as a series of assets swaps that will dramatically remake Germany’s energy sector.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Under the terms of a deal unveiled on Sunday, Eon will become a company purely focused on providing energy networks and services to retail customers, while RWE will acquire Eon and Innogy’s renewables businesses and take a 16.7% stake in Eon.

    The deal amounts to an ambitious transformation of some of Europe’s most critical energy companies and a clear indication that Eon and RWE are back on the offensive after years of retrenchment and a series of regulatory blows.

    It is also the latest high-profile transaction in the German energy market in a matter of months, after Eon sold a minority stake in its former subsidiary Uniper to Finland’s Fortum for €3.8bn in January.

    Full Content: Financial Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.