E.ON completes sale of 46.65% stake in Uniper to Fortum

Germany: German electric utility company E.ON has completed the sale of its 46.65% stake in the energy company Uniper to Fortum for €3.8 billion ($4.4 billion).

Uniper was spun off from E.ON in 2016, resulting in the transfer of 53.35% of all the shares in Uniper directly to the portfolios of E.ON shareholders, reports Compelo.

According to E.ON CEO, Johannes Teyssen, E.ON is turning to intelligent energy networks and modern customer solutions in Europe.

Earlier this month, the European Commission approved Fortum’s proposed purchase of German energy company Uniper. In its decision, the Commission concluded the transaction would raise no competition concerns in the EU, reports Compelo.

Source: Compelo