January 8, 2018 / 3:10 PM / 9 months ago

E.ON to sell remaining Uniper stake to Fortum for $4.51 billion

FRANKFURT, Jan 8 (Reuters) - Germany’s E.ON will tender its remaining 46.65 percent stake in Uniper to Finland’s Fortum, it said on Monday, ahead of an official deadline later this week.

The decision confirms a preliminary deal struck in September, when E.ON agreed it could tender the stake at a fixed price of 22 euros per share, more than twice Uniper’s listing price, to Fortum by Jan. 11.

The deal gives E.ON, which spun off Uniper and its power plants in 2016 to focus on more promising networks and renewables, 3.76 billion euros ($4.51 billion) in proceeds and hands Fortum a stake just shy of a controlling majority.

$1 = 0.8335 euros Reporting by Christoph Steitz, editing by David Evans

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