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RWE, E.ON reshape German power sector in Innogy asset swap deal

Reuters  |  ESSEN/DUESSELDORF 

By Christoph Steitz and Tom KäckenhoffESSEN/DUESSELDORF (Reuters) - Germany's top utilities on Sunday announced plans to break up Innogy, whose assets will be divided among parent RWE and rival E.ON in the sector's biggest overhaul since a landmark move to exit nuclear power.The deal, which includes E.ON making a 5.2 billion euro ($6.4 billion) takeover offer to Innogy's minority shareholders, spells the end of the network, renewables and retail energy group, carved out from RWE two years ago, as a standalone unit.Chancellor Angela Merkel's decision to abandon nuclear power after Japan's ...

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First Published: Mon, March 12 2018. 10:30 IST
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