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EU Approves E.ON Acquisition Of Various Innogy Businesses, Including Retail & Consumer Solutions
September 17,2019 The European Commission has approved, under the EU Merger Regulation, the acquisition by E.ON of Innogy's distribution and consumer solutions business as well as certain of its electricity generation assets. The approval is conditional on full compliance with a commitments package offered by E.ON. E.ON and RWE, which controls Innogy, are both energy companies based in Germany. They are active across the energy supply chain, from generation and wholesale to distribution and retail supply of electricity and gas. They are each active in several Member States but their activities mostly overlap in Czechia, Germany, Hungary, Slovakia and the UK. The two companies are engaged in a complex asset swap. Following this asset swap, E.ON will focus on the distribution and retail supply of electricity and gas, whereas RWE will be primarily active in upstream electricity generation and wholesale markets. E.ON had offered the following commitments adopted by the EU • To divest most of E.ON's customers supplied with heating electricity in Germany and, at the option of the purchaser, all assets that may be needed to operate effectively in the market; • To divest E.ON's business in the retail supply of electricity to unregulated customers in Hungary, including all assets and staff; • To divest Innogy's entire business in the retail supply of electricity and gas in Czechia, including all assets and staff. • To discontinue the operation of 34 electric charging stations located on German motorways. These stations will be operated by a new third party supplier in the future; See more details here
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