EU clears RWE takeover of EON electricity generation assets

phys.org | 2/26/2019 | Staff
applecan (Posted by) Level 3
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The EU on Tuesday approved RWE's acquisition of fellow German energy company EON's renewable and nuclear generation assets as part of a major asset swap.

The European Commission's competition authorities said the proposed transaction, which will see RWE acquire a 16.67 percent minority share in EON along with the bulk of its nuclear and renewable generation assets, raised "no competition concerns".

Germany - Competition - Watchdog - Approval - Deal

Germany's own competition watchdog also gave its approval to the deal, which forms part of a complex exchange between the two companies announced in March last year that will see RWE move to focus on generation and wholesale and EON concentrate on the distribution and retail of electricity and gas.

EU competition officials looked at how the transaction would affect the generation and wholesale supply of electricity, particularly in Germany—the main country where RWE and EON's activties overlap.

Probe - Acquisition - RWE

The probe found that the acquisition would increase RWE's...
(Excerpt) Read more at: phys.org
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