German Energy Company E.ON SE and MVM Group today signed an agreement regarding the sale of innogy SE’s entire electricity and gas retail business in the Czech Republic, innogy Ceska republika a.s., for an undisclosed amount.
The transaction is subject to the approval of the European Commission and is expected to close before year-end. innogy is currently supplying 1.2 million gas customers and 0.4 million electricity customers in the Czech Republic.
This transaction marks the final step in the fulfilment of the remedies offered by E.ON in the context of the antitrust approval of E.ON’s takeover of innogy. E.ON has previously entered into agreements for the sale of a significant part of E.ON’s German heating electricity business, part of E.ON’s electricity retail business in Hungary and regarding the discontinuation of the construction and operation of a number of electric-vehicle charging stations on motorways in Germany.