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Germany: Energy group wants out of Uniper

 |  May 10, 2017

German energy group E.ON plans to quickly sell its remaining stake in Uniper, the power plant and trading unit it spun off last year in what marked the group’s most far-reaching restructuring to date.

“It will happen soon but also in a way that creates value, as the markets allow,” Chief Executive Johannes Teyssen told shareholders at the group’s annual general meeting on Wednesday.

Following the spin-off, E.ON still holds a 46.65 percent stake in Uniper, which has a value of $3.09 billion based on its current market valuation. E.ON has previously said it could sell further Uniper stakes from 2018.

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