Deals
EON Wins Conditional EU Approval to Take Over Utility Innogy
- Companies divest German, Czech, Hungarian assets to allay EU
- EU says these sales mean deal no longer raises concerns
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EON SE won conditional European Union approval to take over Innogy SE, a crucial step in a deal that’s set to transform Germany’s energy landscape.
The European Union on Tuesday granted EON permission to take over Innogy from RWE AG after the utility agreed to shed businesses in Hungary and the Czech Republic. To appease over regulators, EON will divest most of its German customers of heating power, potentially with any assets necessary to a buyer, the European Commission said in a statement on Tuesday.