The new E.ON
Questions & Answers
E.ON has received approval from the EU Commission and successfully transferred innogy‘s shares. What happens now?
- The EU Commission granted clearance for the transaction on September 17, 2019. On Day 1, the innogy shares held by RWE were transferred to E.ON.
- This means that E.ON initially receives all of innogy's current business activities. Some business activities, in particular innogy's renewables business, are to be transferred to RWE at a later date.
- On 09/04/2019 E.ON has informed the innogy Management Board about its intention to fully integrate the company into the E.ON group, immediately after the European Commission approves the acquisition of the innogy shares held by RWE and by other shareholders during the course of the voluntary takeover offer. This shall be implemented by way of a merger of innogy SE into E.ON Verwaltungs SE, excluding the remaining minority shareholders of innogy SE in exchange for payment of an adequate cash compensation according to sec. 62 para 5 of the German Transformation Act (Umwandlungsgesetz) (so-called “merger squeeze-out”).
Why does the integration of E.ON and innogy make sense?
- By combining the activities of E.ON and innogy step-by-step in the next months, we are able to scale our business much more effectively. We will be able to realize substantial synergies.
- Boosting efficiency in this way is not an end in itself – it means that we provide our customers with even more competitive offerings in the future.
- We will also be able to meet the justified expectations of an innovative partnership even faster and more effectively.
- Combining the valuable experiences of E.ON and innogy and learning from them together will bring us a decisive step forward.
Why is the new E.ON better?
- We are the first major European energy company to fully commit to the new energy world and the needs of our customers.
- The new E.ON has significantly more potential and expertise than before – it is even stronger, innovative and proficient in the areas of energy networks and customer solutions.
- This benefits our customers and partners, our employees and investors as well as Europe, Germany and Essen.
What will be different from now on?
- Our relationship with our customers is the crucial foundation for our success. We know that we have to continually win them over with our products and services. This is what our over 70,000 employees are striving to achieve every day.
- For E.ON and innogy customers, Day 1 does not initially change anything: they retain their usual contacts and there will be no changes at short notice.