E.ON files offer for innogy stake
German energy company E.ON published its 5.2-billion-euro takeover offer for a minority stake in innogy, part of a plan to break up the RWE renewables carve-out, reports news agency Reuters. E.ON said its offer for the 23.2 percent in innogy not owned by RWE is worth 40 euros per share, including dividend payments to innogy shareholders for 2017 and 2018. RWE and E.ON in March presented comprehensive plans to swap assets, turning RWE into Europe’s second-largest wind utility and E.ON into Europe’s largest operator of gas and power networks.
For background, read the CLEW piece Deal between utilities E.ON and RWE set to reshuffle German energy market and the dossier Utilities and the energy transition.