E.ON SE (EONGn.DE)
16 Mar 2018
FRANKFURT/DUESSELDORF German utility E.ON is emerging as an investor favorite following a major asset swap deal with rival RWE this week, with its eye-popping share of regulated profits outshining RWE's riskier bet on renewables.
FRANKFURT/DUESSELDORF, March 16 German utility E.ON is emerging as an investor favourite following a major asset swap deal with rival RWE this week, with its eye-popping share of regulated profits outshining RWE's riskier bet on renewables.
DUESSELDORF, Germany Labor unions want to move quickly to commit energy groups E.ON and RWE to avoiding forced redundancies in the planned break-up of RWE's networks and renewables unit Innogy , a board member of the Verdi union said.
* E.ON puts synergies at 600-800 mln eur, RWE at 50 mln (Adds details on cuts, synergies)
ESSEN, Germany German energy groups E.ON and RWE on Tuesday fleshed out their plans to break up RWE's Innogy business, predicting higher profits and dividends as a result of a more focused corporate structure.
* E.ON +3.9 pct, RWE -2.9 pct, Innogy +0.5 pct (Adds official Innogy statement on offer review, paragraph 15)
ESSEN, Germany E.ON could gain full control of Innogy without raising its 40-euros-per-share ($49.5) bid for minority shareholders, its Chief Executive said after clinching a deal to buy RWE's 76.8 percent majority stake in the group.
ESSEN, Germany A carve-up of Innogy between parent RWE and rival E.ON must include provisions to give workers at the affected companies job and wage security, a member of labor union Verdi's board said on Tuesday.
ESSEN, Germany, March 13 German utilities RWE and E.ON have sold much of their power generation over the next two years at prices below current wholesale market levels but said on Tuesday that generation margins were on the mend.
LONDON, March 13 European shares edged higher on Tuesday, with trading muted as investors awaited the latest inflation figures from the United States, while results drove big moves in Iliad and E.ON.