E.ON is close to selling its stake in Uniper

20 September 2017

E.ON is reported to be in advanced negotiations regarding an agreement under which to which it would have the right to decide to tender its remaining Uniper stake in the course of a Public Takeover Offer by Fortum in early 2018. Uniper is the company created by E.ON as part of its strategy to move away from fossil fuels businesses,
E.ON SE is in advanced negotiations with Fortum about the agreement, which would allow it to dispose its 46.65 % stake in Uniper SE. The agreement, which might be signed in 2017, would include the launch of a voluntary public takeover by Fortum, during which E.ON would be able 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.
Should an agreement be reached with Fortum and if E.ON decides in early 2018 to tender its Uniper shares, the total value received by E.ON for its Uniper stake would be € 3.8 billion, provided that customary closing conditions to the voluntary public takeover offer including anti-trust and other regulatory approvals are fulfilled.
In relation to these advanced discussions, certain questions are currently also being clarified with the respective authorities. Any agreement between the parties will be subject to the required internal approvals by both parties.

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