Transformational Deal Between RWE and E.ON for Innogy Reinforces Our Preference for the Former
In an agreement announced March 11, E.ON will acquire RWE's 77% stake in Innogy. In return, RWE will get a participation of 16.7% in E.ON and most of E.ON's renewables business. RWE will keep Innogy's renewables and gas storage business. E.ON will carry out a 20% capital increase and get a EUR 1.5 billion cash payment from RWE. Last but not least, E.ON will buy out Innogy's 23% minorities at EUR 40 per share, consisting of an offer price of EUR 36.76 per share plus Innogy's dividend for 2017 and...
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