Eon has secured commitments to a further 9.4% of Innogy shares, on top of the 76.8% it will acquire from the latter’s owner RWE as part of a complex takeover agreement between the companies announced earlier this year.
The additional shares came following a voluntary public takeover offer to Innogy minority shareholders that closed on 25 July.
Eon will now own an 86.2% share of Innogy when the transaction is completed, which the company expects to be sometime in mid-year.
Eon chief financial officer Marc Spieker said: “We are very satisfied with the result. The agreed acquisition of RWE’s majority stake will already provide us with the necessary means to integrate Innogy into Eon once the transaction has been completed.
“We are very pleased that we were able to convince many additional Innogy shareholders of our offer.”
Spieker added that some funds could not sell their Innogy shares due to internal restrictions.
Eon said that following the voluntary public takeover offer, it now “intends to take the next steps towards implementation of the transaction”.
Under the terms of the deal, RWE will end up owning the renewables assets of Eon and Innogy, while Eon will have the retail and network businesses.
Image: Eon
Eon boosts Innogy shares
By EBS