The new E.ON
Questions & Answers
The merger squeeze-out was entered into the Commercial Register – this concludes the final step in E.ON’s takeover of innogy. What does it mean?
- Together with RWE, in March 2018 E.ON announced its intention to acquire RWE’s innogy shares as part of a larger transaction.
- In mid-September 2019 the European Commission gave its green light to the transaction.
- In March 2020 the innogy General Meeting passed a resolution to transfer minority shareholders’ remaining shares to E.ON in exchange for appropriate cash compensation as part of a merger squeeze-out.
- On June 2th 2020 the merger squeeze-out was entered into the Commercial Register – this concludes the final step in E.ON’s takeover of innogy. This makes E.ON the full owner of innogy.
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 around 75.000 employees are striving to achieve every day.
- For E.ON and innogy customers do not initially change anything: they retain their usual contacts and there will be no changes at short notice.