(updated after voting)
ESSEN (dpa-AFX) – The energy company Eon Is at the
Takeover of RWE – Grid and green electricity subsidiary Innogy
made another step forward. A
Innogy’s Annual General Meeting voted for the
Exclusion of the remaining shareholders from the company, such as Eon
announced. You will receive a severance payment of EUR 42.82 per share. It
however, it is expected that individual shareholders will try
Court to seek a higher severance payment. Shareholder representative
had the cash compensation at the almost twelve-hour general meeting
criticized as too low.
The energy companies Eon and RWE agreed in March 2018 that
To divide RWE’s grid and green electricity subsidiary Innogy among themselves. Eon
wants to focus entirely on the operation of electricity and gas networks in the future
as well as focus on doing business with customers. RWE receives in
In turn, the renewable energies from Innogy and Eon and wants to
become one of the world’s leading producers of green electricity. The EU
has already approved the deal with short runs. Eon is
already holds 90 percent of Innogy shares.
“From our point of view, this is more of a funeral today,” summed up
Thomas Hechtfischer from the German Protection Association for
Securities ownership put together the mood among small shareholders.
Innogy’s very short success story was “an inglorious one
The End”.
It was less than three and a half years ago that RWE had its daughter
Innogy had big ambitions to go public. Innogy
suddenly became the most valuable German
Energy company. Innogy had brilliant growth prospects at the time
promised, but now the shareholders should “kick out” and
“to be resigned to a few ragged euros,” scolded
Shareholder representative Joachim Kregel.
The cash compensation of EUR 42.82 is judicial from one perspective
appointed expert and is above the
Innogy’s corporate value, Leonhard Birnbaum assured,
Board member at Eon and CEO of Innogy. Separate
Speakers asked the board up to 70 detailed individual questions –
probably to get material for such a procedure.
According to Eon, the lawsuits can only amount to the amount
Question severance pay. Eon’s schedule provides for the
Transfer of Innogy shares to the commercial register in mid-April
is entered. Innogy can then be removed from the stock exchange.
As a precautionary measure, you have June 18 for another
Innogy Annual General Meeting reserved.
Eon’s takeover of Innogy is also linked to one
Downsizing. According to earlier information, up to 5000 positions are said to be in
disappear from the merged company – socially responsible, how
Pear tree once again insured. The merger is scheduled for 2022
Bring synergies of 740 million euros, by 2024 it should be 780
Million euros. That is at the top of the previous one
Announcements from Eon.
What megafusion means for consumers is controversial.
After all, Eon and Innogy together have more than 13 in Germany
Millions of electricity and gas customers. Critics point out that the
new eon access to data from millions of electricity meters
will have what is of great value in times of the energy transition.
Eon boss Johannes Teyssen has stressed the electricity business in
Germany is largely regulated by the state. Also the
Competition is due to the large number of electricity providers in Germany
not endangered by the merger. / hff / DP / fba
ISIN DE000ENAG999 DE0007037129 DE000A2AADD2
AXC0425 2020-03-04 / 23: 01
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