Markets & Policy

Fortum wants to buy Uniper shares for €3.8 billion

Finnish energy group Fortum could take over a 46.65% stake in Uniper from Eon, with a deal expected to be made as early as the start of 2018. Eon hopes to see proceeds of €3.8 billion from the sale.

By

Sandra Enkhardt

20 Sep 2017

1

Markets & Policy

Solarpark_Eon_Deutschland_Draschwitz_2017

Photo: Eon

The Finnish energy group would buy the 46.65%-share and therefore publish a public takeover offer, with a cash payment of €22 per share, with no minimum threshold. Eon will most likely accept this offer by the beginning of 2018.

The German energy company can therefore expect a total amount of €3.8 billion for the sale of its Uniper shares. However, cartel and other regulatory approvals are still required for the takeover. Eon is currently working alongside authorities over legal matters which they say will soon be resolved. The Board of Directors at both companies will also have to approve the offer.

Uniper was founded after the Eon’s strategic realignment. The “new” Eon has been concentrating on the business fields of customer networks, solutions and renewable energies. The traditional energy business with fossil electricity and energy generation was outsourced to Uniper.

(Translated from German)

Written by

Sandra Enkhardt
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