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E.ON expects Innogy squeeze-out to be completed soon

FILE PHOTO: A hot air balloon with the logo of German energy giant E.ON flies at dawn in Ronda, southern Spain, July 21, 2018. REUTERS/Jon Nazca

FRANKFURT (Reuters) - German energy group E.ON EONGn.DE expects a squeeze-out of minority shareholders of peer Innogy IGY.DE to be completed soon, its CEO told shareholders in Thursday, marking the final step in its landmark asset swap with RWE RWEG.DE.

Johannes Teyssen also stuck to the group’s 2020 targets for adjusted operating profit, but cautioned the potential impact from the coronavirus pandemic in the remainder of the year was not reflected in that assumption.

Reporting by Christoph Steitz; Editing by Michelle Martin

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