Eon has completed the split of its business operations, which will see it focus on renewables, energy networks and customer solutions, with a new independent business unit Uniper concentrating on conventional power generation and energy trading.
Uniper will be headquartered in Düsseldorf, while Eon will be based in Essen.
Eon said the spinoff of Uniper is expected to take place in the second half of 2016 following the approval of its shareholders.
Shareholders are expected to meet in June to approve the Uniper spinoff, when Eon would divest it majority stake in Uniper and lists the company’s shares on the stock market.
Eon said it intends to part with its remaining stake over the medium term.
Eon chief executive officer Johannes Teyssen said: “This liberates us from continually having to make compromises.
“Our ambition is for both companies, which soon will be legally independent of one another, to become leading players in their respective energy worlds.”
Image: Eon
