Planned takeover of innogy

E.ON sets the amount of cash compensation for innogy’s remaining minority shareholders at €42.82 per innogy share

01/16/2020

In September, E.ON informed the innogy management board about its intention to carry out a merger of innogy SE into E.ON Verwaltungs SE excluding the remaining minority shareholders (so called “merger squeeze-out”). E.ON currently holds 90 percent of all innogy shares through E.ON Verwaltungs SE, an E.ON group company.

Today, E.ON informed the innogy management board that the appropriate cash compensation to be paid to innogy’s remaining minority shareholders is €42.82 per innogy share. This amount corresponds to the three-month volume weighted average share price for the three-month period prior to the publication of E.ON’s transfer request in September. The appropriateness of this cash compensation has been confirmed by the court-appointed expert auditor.

The conclusion of the merger agreement between innogy SE and E.ON Verwaltungs SE to implement the merger squeeze-out is expected to take place on 22 January 2020. The extraordinary general meeting of innogy SE that shall resolve on the transfer of shares of innogy’s remaining minority shareholders will then take place on 4 March 2020.

After the resolution of the general meeting of innogy SE the merger squeeze-out will become effective upon registration of the transfer resolution and the merger in the commercial register.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to align them to future events or developments.