E.On has said that it is now in ‘advanced negotiations’ over the sale of its remaining stake in Uniper to Finnish utility Fortum. Agreement may be reached this year, the company said.
E.On currently owns 46.65 % of Uniper, the fossil fuel and commodity trading company spun out last year.
The agreement would take the form of a voluntary public takeover by Fortum, in which E.On would have the right to decide to tender its shares in early 2018. Fortum’s offer to all Uniper shareholders would comprise a cash consideration with a total value of €22.00 per share. The offer would not have a minimum acceptance condition. The deal would value E.On’s stake at €3.8 billion.
Further reading: Uniper’s Felix Lerch talks about restructuring the company
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