May 8, 2018 / 8:34 AM / 4 months ago

E.ON can integrate Innogy with RWE stake

FRANKFURT (Reuters) - E.ON (EONGn.DE) can realise plans to integrate rival Innogy (IGY.DE) by acquiring a 76.8 percent from RWE (RWEG.DE), the group’s Chief Financial Officer Marc Spieker said, lowering the chances of a higher follow-up offer in a potential squeeze-out.

Speaking to journalists following the publication of first-quarter results, Spieker said that the stake E.ON will get from RWE will already enable it to implement a so-called domination and profit and loss transfer agreement.

E.ON and RWE in March announced plans to break up Innogy and divide its parts among them in a major overhaul of Germany’s corporate energy sector.

Reporting by Christoph Steitz; Editing by Maria Sheahan

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