E.on completes purchase of takeover of innogy

E.on has completed the final step for the full takeover and integration of innogy to the company. 

Together with RWE, in March 2018 E.ON announced its intention to acquire RWE’s innogy shares as part of a larger transaction. In mid-September 2019, the European Commission gave its green light to the transaction. In March 2020 the innogy General Meeting passed a resolution to transfer minority shareholders’ remaining shares to E.ON in exchange for appropriate cash compensation as part of a merger squeeze-out. The final steps of the transaction with RWE, i.e. the transfer of the innogy renewables business, gas storage, and the participation in KELAG to RWE is now intended to be implemented at the end of June 2020.

The new E.ON will be one of Europe’s largest operators of energy networks and energy-related infrastructure and a provider of innovative customer solutions for about 50 million customers.