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EU Commission Approves E.ON’s Takeover of innogy

Power News - Published on Thu, 19 Sep 2019

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Following the European Commission’s clearance of the takeover of innogy, EON intends to swiftly carry out the integration of innogy into the Group. EON CEO Johannes Teyssen said that “The new E.ON’s future begins today. The integration of innogy will create a company fully dedicated to putting customers at the center of everything it does. We want to partner with our customers to actively shape the new energy world while becoming more innovative, using energy with ever-greater efficiency, and making an effective contribution to climate protection.”

The innogy integration will enhance the company’s performance in the interest of its customers, enterprise partners, employees, and shareholders. Mr Teyssen said that “By combining our strengths with innogy’s, we’re creating a company whose smart grids are bringing more and more green power to people, companies, and communities and linking them together. A company that develops innovative and attractive products and services for more than 50 million customers in 15 countries. That same company will provide more than 70,000 employees with jobs that are secure well into the future. And will offer shareholders attractive value and growth prospects.”

The European Commission’s clearance is linked to various commitments by E.ON to exit certain businesses. These include innogy’s electricity and gas retail business in the Czech Republic and part of E.ON’s electricity retail business in Hungary. The commitments in Germany relate primarily to a significant part of E.ON’s heating electricity business, and the construction and operation of a number of electric-vehicle charging stations on motorways.

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Posted By : Rabi Wangkhem on Thu, 19 Sep 2019
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