Essen-based energy company E.ON has submitted its application to integrate innogy to the EU Commission.
“With the filing of the transaction in Brussels, we have taken an important step towards our goal of implementing the transaction agreed with RWE to acquire innogy from mid-2019. We are also well on track to prepare the planned integration of innogy and are making good progress,” said Johannes Teyssen , CEO of E.ON SE.
E.ON had already submitted information and data on the transaction to the EU Commission. The EU Commission will now examine possible effects of the transaction on competition in Europe in the course of the formal proceedings.
“With the integration of innogy, we want to further develop the new E.ON into a clearly focused operator of European energy networks and provider of modern customer solutions. And we want to develop innovations even more powerfully than before to improve the lives of our customers and drive the energy revolution in Europe,” Teyssen said.
In March 2018, E.ON reached an agreement in principle with compatriot RWE AG to acquire RWE’s 76.8% stake in innogy SE.
Under the agreement, E.ON would receive RWE’s 76.8% stake in innogy in return for granting RWE an effective participation of 16.67% in E.ON SE.
The renewables businesses of E.ON and RWE would be brought together under the umbrella of RWE, including the entire innogy renewables business.
Earlier this month, RWE filed the acquisition of renewables businesses of E.ON and innogy with the European Commission.