Eon swallows Innogy - billion deal completed | the economy

The energy supplier Innogy with its approximately 8 million customers in Germany is now finally part of the industry leader, Eon. Eon CEO Johannes Teyssen rejoi

Eon swallows Innogy - billion deal completed | the economy

The energy supplier Innogy with its approximately 8 million customers in Germany is now finally part of the industry leader, Eon. Eon CEO Johannes Teyssen rejoice. Comparable didn't give it in Germany since a long time.

Essen (dpa) - A far-reaching reorganisation of the energy sector in Germany is under the roof. The RWE subsidiary Innogy, which is now part of the energy giant Eon.

The so-called Squeeze-out the remaining minority shareholders of Innogy, had been registered in the commercial register, with a split Eon on Tuesday. Expected later this week, the trade of Innogy will set the shares on the stock exchange. The cash settlement of 42,82 EUR per share, the minority shareholders were squeezed out of the company, should be paid in the next few days.

Eon CEO Johannes Teyssen has the in March 2018, the agreed to billion deal with the old rival RWE historical dimensions. "Something similar has not occurred in the last decades of German economic history", underlined he. Eon passed as soon as the last nuclear power plant is shut off completely from the production of electricity and focuses on the construction and operation of energy networks and the sale of electricity and Gas to around 50 million customers in 15 European countries.

RWE has taken the renewable energies Eon and still gets the wind farms and solar installations of Innogy. As a result, the brown coal fossil Romer is one of the world's largest producer of green electricity. The registration of the merger of Eon with Innogy in the commercial register is also for RWE "an important milestone", the company said in a Tweet. RWE is become by the agreement also the largest shareholder of Eon.

critics fear, however, negative effects on competition in Germany, among other things, the introduction of new technologies such as smart electricity meters. Teyssen is facing one of several city's plants filed a lawsuit against the approval of the deal by the EU Commission left. You have "very low prospects of success" he had said at the Eon meeting in the last week.

The Acquisition of Innogy by Eon is also associated with a reduction in personnel. Up to 5000 jobs will be eliminated in the merged company in a socially responsible manner. However, there are also great opportunities for new employment, had Teyssen insured.

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Date Of Update: 04 June 2020, 06:34

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