EU Clears E.ON's Acquisition of Innogy
September 17 2019 - 4:53AM
Dow Jones News
By Max Bernhard
The European Union said Tuesday that it cleared E.ON SE's
(EOAN.XE) acquisition of Innogy SE (IGY.XE) under the condition
that E.ON complies with a remedy package it has offered to get the
German utility deal greenlighted.
E.ON is acquiring the distribution and consumer-solutions
business as well as certain of electricity-generation assets from
Innogy, which is controlled by RWE AG (RWE.XE).
To address the commission's competition concerns, E.ON offered
to divest most of its heating-electricity customers in Germany and
to discontinue the operation of 34 electric-charging stations on
German motorways, the EU's antritrust body said.
The offered remedies also include the divestment of E.ON's
business in the retail supply of electricity to unregulated
customers in Hungary and Innogy's entire business in the retail
supply of electricity and gas in the Czech Republic.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
September 17, 2019 04:38 ET (08:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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