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RWE gets UK okay to buy into E.on

The Blackburn Meadows battery system. Photo by: E.on (www.eonenergy.com).

April 10 (Renewables Now) - German energy group RWE AG (ETR:RWE) has received the green light from the British Competition and Markets Authority (CMA) to buy a 16.7% stake in rival E.on SE (ETR:EOAN).

The approval comes without any conditions, CMA said on Tuesday. In its statement the regulator acknowledged that as part of the same complex transaction RWE will acquire E.on’s renewable energy business and its minority interests in the Emsland and Gundremmingen nuclear power stations.

The “far-reaching” transaction announced last year also calls for RWE to sell to E.on its majority-owned subsidiary Innogy SE (ETR:IGY), but acquire the latter’s renewable energy activities, its gas storage business and its stake in Austrian power utility Kelag.

The portions of the deal concerning the minority stake in E.on and the renewable energy assets are already cleared by the European Commission and the Federal Cartel Office.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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