EU: Brussels approves E.ON’s bid to take over Innogy

Eon has had to wait a long time to get the nod from Brussels, but Tuesday, September 17, EU antitrust authorities approved the German utility’s acquisition of the Innogy subsidiary of rival power company RWE.

“Today begins the future of the new Eon,” said CEO Johannes Teyssen. “With the integration of Innogy we are creating a company that will put our customers at the center of our attention.”

To secure approval of the merger, which will see RWE retain Innogy’s renewables unit and acquire Eon’s clean energy operations, Eon had to offload business units including Innogy’s Czechian electricity and gas consumer operation and parts of its own Hungarian interest. In Germany, Eon announced it would sell its heater current business and its highway electric vehicle charging operation to a third party.

Full Content: PV Magazine, Europa

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