RWE reaches 57-month high after selling Innogy to E.ON

Friday, 20. September 2019 12:04

RWE AG shares gained over 2% on Friday after it finalized the sale of its renewable energy subsidiary Innogy SE to E.ON SE for approximately €40 billion.

On Thursday, German electric utility company E.ON closed the purchase of a 76.8% stake in Innogy SE, shortly after the European Commission approved the transaction.

In March 2018, E.ON started the takeover of the 76.8% stake in Innogy, while RWE acquired all E.ON’s major renewable energy activities and Innogy’s renewable energy business, as well as a 16.7% minority stake in E.ON. RWE will keep approximately 8GW of renewable energy assets, including offshore wind.

RWE was up by 1.94% at 12:00 pm CET to reach the highest level since December 11, 2014, while E.ON lost 0.32% and increased 10.22% in the last month. Innogy was down 0.22% at 12:02 pm CET.

Related Links: innogy SERWE AGE.ON SE
Author:
Breaking the News / TF