Eon shareholders will vote today on the company’s plans to focus on renewables, energy networks and customer solutions, with a new independent business unit Uniper concentrating on conventional power generation and energy trading.
Eon chief executive officer Johannes Teyssen has asked shareholders to approve the spinoff of the new unit called Uniper, which will require a majority of at least 75% of the share capital represented at the time of the vote.
Eon said, if the necessary majority is reached, it will spin off a 53.35% stake in Uniper to its shareholders.
The company said the spinoff will also give shareholders additional options.
Each shareholder will remain a co-owner of Eon but will also receive one Uniper share for 10 Eon shares.
“Shareholders can then decide whether they wish to retain their Eon and Uniper shares or modify their portfolio,” Eon said.
Teyssen said: “We intend to undertake the largest transaction of Europe’s recent industrial history. It would create nothing less than a new Eon, a company fully dedicated to the energy future.
“And at the same time we’re setting Uniper on a good course of its own.”
Image: Eon
